Solving Optimal Switching Models

Paul L. Fackler

No 277665, CEnREP Working Papers from North Carolina State University, Department of Agricultural and Resource Economics

Abstract: Numerous control problems in economics can be characterized as optimal switching problems, including optimal stopping and entry/exit problems. With certain notable exceptions, solutions to such problems must be computed numerically. This paper discusses an approach to obtaining a numerical solution in a fairly general setting and describes a user-friendly MATLAB implementation that simplifies that process.

Keywords: Environmental; Economics; and; Policy (search for similar items in EconPapers)
Pages: 28
Date: 2018-09-24
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Persistent link: https://EconPapers.repec.org/RePEc:ags:nccewp:277665

DOI: 10.22004/ag.econ.277665

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