An approximate dynamic programming approach to solving dynamic oligopoly models.

In this article, we introduce a new method to approximate Markov perfect equilibrium in large-scale Ericson and Pakes (1995)-style dynamic oligopoly models that are not amenable to exact solution due to the curse of dimensionality. The method is based on an algorithm that iterates an approximate bes...

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Detalles Bibliográficos

Publicado en:	RAND Journal of Economics (Wiley-Blackwell) Vol. 43; no. 2; pp. 253 - 283
Autores principales:	Farias, Vivek, Saure, Denis, Weintraub, Gabriel Y.
Formato:	Artículo
Publicado:	Wiley-Blackwell Summer2012
Materias:	Oligopolies Dynamic programming Mathematical models Algorithms Approximation theory Dimension reduction (Statistics) Mathematical functions
Acceso en línea:	Ver este registro en EBSCOhost