A Note on a Rapid Grid Search Method for Solving Dynamic Programming Problems in Economics

Hui He () and Hao Zhang ()
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Hao Zhang: University of Hawaii at Manoa, Department of Economics

No 201017, Working Papers from University of Hawaii at Manoa, Department of Economics

Abstract: We introduce a rapid grid search method in solving the dynamic programming problems in economics. Compared to mainstream grid search methods, by using local information of the Bellman equation, this method can significantly increase the efficiency in solving dynamic programming problems by reducing the grid points searched in the control space.

Keywords: Dynamic Programming; Grid Search; Control Space (search for similar items in EconPapers)
JEL-codes: C61 C63 C68 (search for similar items in EconPapers)
Pages: 20 pages
Date: 2010-09-17
New Economics Papers: this item is included in nep-cmp and nep-dge
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