Comparison of Policy Functions from the Optimal Learning and Adaptive Control Frameworks
AbstractIn this paper we turn our attention to comparing the policy function obtained by Beck and Wieland (2002) to the one obtained with adaptive control methods. It is an integral part of the optimal learning method used by Beck and Wieland to obtain a policy function that provides the optimal control as a feedback function of the state of the system. However, computing this function is not necessary when doing Monte Carlo experiments with adaptive control methods. Therefore, we have modified our software in order to obtain the policy function for comparison to the BW results.
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Bibliographic InfoPaper provided by Utrecht School of Economics in its series Working Papers with number 08-19.
Length: 19 pages
Date of creation: 2008
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This paper has been announced in the following NEP Reports:
- NEP-ALL-2008-09-20 (All new papers)
- NEP-CMP-2008-09-20 (Computational Economics)
- NEP-MAC-2008-09-20 (Macroeconomics)
- NEP-ORE-2008-09-20 (Operations Research)
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