Title of article :
Solving stochastic optimization models wit
Author/Authors :
Hans M. Amman، نويسنده , , David A. Kendrick، نويسنده , , Sudhakar Achath، نويسنده ,
Issue Information :
روزنامه با شماره پیاپی سال 1995
Abstract :
In this paper we present a general single-agent stochastic dynamic optimization model that is capable of dealing with learning and with rational expectations. We obtain the solution by solving at every time step the rational expectations model and then applying existing optimization schemes to derive the optimal solution.
Keywords :
Learning , Forward variables , Stochastic control , Rational expectations
Journal title :
Economics Letters
Journal title :
Economics Letters