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An Improved RBF Method for Solving Variational Problems Arising from Dynamic Economic Models

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  • A. Golbabai
  • A. Saeedi

Abstract

This paper developes a direct method for solving variational problems via a set of Radial Basis Functions (RBFs) . Operational matrices of differentiation, the product of two RBF vectors and some other formulas are derived and are utilized to propose a method which essentially reduces a variational problem to the linear system of algebraic equations. National saving problem is considered and solved by proposed method which experimentally illustrates effectiveness and applicability of the method. Some experiments are conducted in order to compare the accuracy and stability of several shape parameter strategies in these type of problems. Finally a novel shape parameter strategy is proposed which promotes accuracy and stability of the method. Copyright Springer Science+Business Media New York 2015

Suggested Citation

  • A. Golbabai & A. Saeedi, 2015. "An Improved RBF Method for Solving Variational Problems Arising from Dynamic Economic Models," Computational Economics, Springer;Society for Computational Economics, vol. 46(2), pages 275-285, August.
    • Handle: RePEc:kap:compec:v:46:y:2015:i:2:p:275-285
    DOI: 10.1007/s10614-014-9463-6
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    References listed on IDEAS

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    1. Michael Hoy & John Livernois & Chris McKenna & Ray Rees & Anthanassios Stengos, 2001. "Student's Solutions Manual for Mathematics for Economics, 2nd Edition," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262582015, December.
    2. Michael Hoy & John Livernois & Chris McKenna & Ray Rees & Anthanassios Stengos, 2001. "Mathematics for Economics, 2nd Edition," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262582074, December.
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    Cited by:

    1. Amirhosein Torabi & Sayyed Ali Kiaian Mousavy & Vahideh Dashti & Mohammadhossein Saeedi & Nasser Yousefi, 2019. "A New Prediction Model Based on Cascade NN for Wind Power Prediction," Computational Economics, Springer;Society for Computational Economics, vol. 53(3), pages 1219-1243, March.

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