Applications of Dynamic Programming

András Simonovits
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András Simonovits: Hungarian Academy of Sciences

Chapter 8 in Mathematical Methods in Dynamic Economics, 2000, pp 174-190 from Palgrave Macmillan

Abstract: Abstract The previous Chapter outlined the mathematical theory and the control- theoretic application of the dynamic programming, now some economic applications follow. Sections 8.1 and 8.2 discuss optimal saving (exogenous factor prices) and accumulation (endogenous factor prices), respectively. Section 8.3 extends the analysis of Section 8.2 to the n-dimensional case. Section 8.4 presents a game-theoretic application of dynamic programming (due to Levhari and Mirman, 1980). Detailed description is to be found in Sargent (1987), Manuelli and Sargent (1987) and Stokey and Lucas (1989) which is used again extensively.

Keywords: Utility Function; Discount Factor; Infinite Horizon; Finite Horizon; Consumer Credit (search for similar items in EconPapers)
Date: 2000
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DOI: 10.1057/9780230513532_9

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