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Avoiding the Curse of Dimensionality in Dynamic Stochastic Games / Ulrich Doraszelski, Kenneth L. Judd.
- Format:
- Book
- Author/Creator:
- Doraszelski, Ulrich.
- Series:
- Technical Working Paper Series (National Bureau of Economic Research) no. t0304.
- NBER technical working paper series no. t0304
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2005.
- Summary:
- Continuous-time stochastic games with a finite number of states have substantial computational and conceptual advantages over the more common discrete-time model. In particular, continuous time avoids a curse of dimensionality and speeds up computations by orders of magnitude in games with more than a few state variables. The continuous-time approach opens the way to analyze more complex and realistic stochastic games than is feasible in discrete-time models.
- Notes:
- Print version record
- January 2005.
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