Avoiding the Curse of Dimensionality in Dynamic Stochastic Games
Ulrich Doraszelski and
Kenneth Judd ()
No 304, NBER Technical Working Papers from National Bureau of Economic Research, Inc
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.
JEL-codes: C63 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-dge and nep-gth
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2) Track citations by RSS feed
Downloads: (external link)
Journal Article: Avoiding the curse of dimensionality in dynamic stochastic games (2012)
Working Paper: Avoiding the Curse of Dimensionality in Dynamic Stochastic Games (2005)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:nbr:nberte:0304
Ordering information: This working paper can be ordered from
Access Statistics for this paper
More papers in NBER Technical Working Papers from National Bureau of Economic Research, Inc National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.. Contact information at EDIRC.
Bibliographic data for series maintained by ().