Stochastic Optimal Policies When the Discout Rate Vanishes
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- Nishimura, Kazuo & Stachurski, John, 2007. "Stochastic optimal policies when the discount rate vanishes," Journal of Economic Dynamics and Control, Elsevier, vol. 31(4), pages 1416-1430, April.
References listed on IDEAS
- Mirman, Leonard J. & Morand, Olivier F. & Reffett, Kevin L., 2008.
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- Dutta, Prajit K., 1991. "What do discounted optima converge to?: A theory of discount rate asymptotics in economic models," Journal of Economic Theory, Elsevier, vol. 55(1), pages 64-94, October.
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- Nishimura, Kazuo & Stachurski, John, 2005. "Stability of stochastic optimal growth models: a new approach," Journal of Economic Theory, Elsevier, vol. 122(1), pages 100-118, May.
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Cited by:
- Armando F. Mendoza-Pérez & Héctor Jasso-Fuentes & Omar A. De-la-Cruz Courtois, 2016. "Constrained Markov decision processes in Borel spaces: from discounted to average optimality," Mathematical Methods of Operations Research, Springer;Gesellschaft für Operations Research (GOR);Nederlands Genootschap voor Besliskunde (NGB), vol. 84(3), pages 489-525, December.
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Keywords
Dynamic programming; Long-run optimality.;NEP fields
This paper has been announced in the following NEP Reports:- NEP-ALL-2006-04-29 (All new papers)
- NEP-DGE-2006-04-29 (Dynamic General Equilibrium)
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