An approximate dynamic programming approach to solving dynamic oligopoly models
In this article, we introduce a new method to approximate Markov perfect equilibrium in large-scale Ericson and Pakes (1995)-style dynamic oligopoly models that are not amenable to exact solution due to the curse of dimensionality. The method is based on an algorithm that iterates an approximate bes...
| Main Authors: | , , |
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| Other Authors: | |
| Format: | Article |
| Language: | en_US |
| Published: |
Wiley Blackwell
2012
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| Online Access: | http://hdl.handle.net/1721.1/74676 https://orcid.org/0000-0002-5856-9246 |