Error bounds for a numerical solution for dynamic economic models

DOI10.1016/0893-9659(96)00049-3MaRDI QIDQ5961674zbMATH OpenOpenAlexFDO

Authors M. S. Santos, J. Vigo

Publication date 26 February 1997

Published in Applied Mathematics Letters (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1016/0893-9659(96)00049-3

zbMATH Keywords

dynamic programming algorithmerror boundsinfinite-horizon economic modelsvalue and policy functions

Mathematics Subject Classification ID

Numerical mathematical programming methods (65K05) Dynamic programming (90C39) Economic growth models (91B62)

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Cites work

• A numerical approach to the infinite horizon problem of deterministic control theory
• An optimal one-way multigrid algorithm for discrete-time stochastic control
• Differentiability and comparative analysis in discrete-time infinite- horizon optimization
• scientific article; zbMATH DE number 52448 (Why is no real title available?)
• scientific article; zbMATH DE number 108341 (Why is no real title available?)
• scientific article; zbMATH DE number 158461 (Why is no real title available?)
• Numerical Methods for Stochastic Control Problems in Continuous Time
• On high-order differentiability of the policy function
• Smoothness of the Policy Function in Discrete Time Economic Models
• The Once But Not Twice Differentiability of the Policy Function

Cited in

(11)

• Detecting simple dynamics in Cournot-like models
• Initial guess of the solution of dynamic optimization of chemical processes
• An optimization problem in deregulated electricity markets solved with the nonsmooth maximum principle
• Optimal error predictors for economic models
• A note on the equilibria of an economic model with local competition ``à la Cournot
• Accuracy of Numerical Solutions Using the Euler Equation Residuals
• Lower bounds on approximation errors to numerical solutions of dynamic economic models
• Accuracy of policy function approximations for strongly concave recursive problems
• An environmentally constrained economic dispatch: CFBC boilers in the day-ahead market
• An application of the algorithm of the cyclic coordinate descent in multidimensional optimization problems with constrained speed
• Extensions of Cournot duopoly: an applied mathematical view

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