Realization of grid approximation schemes for Hamilton–jacobi equations in economic growth models

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Realization of grid approximation schemes for Hamilton–jacobi equations in economic growth models. / Bagno, Alexander ; Tarasyev, Alexander ; Tarasyev, Alexander.
In: AIP Conference Proceedings, Vol. 2849, No. 1, 090006, 2023.

Research output: Contribution to journal › Conference article › peer-review

BibTeX

@article{17a9505e926f4ba891f8c9d2bbf4c599,

title = "Realization of grid approximation schemes for Hamilton–jacobi equations in economic growth models",

abstract = "The paper is devoted to the problem of construction of value functions in optimal control problems on infinite horizon for economic growth models. Grid approximation schemes for stationary Hamilton-Jacobi equations are realized for numerical calculation of value functions and optimal controls. For compactification of the grid domain and the range of the value function a series of nonlinear changes of variables are implemented for generating the contraction-mapping operators in the convergent approximation schemes. A special sample of economic growth model is used for verification of calculation results for value functions and optimal controls in grid approximation schemes.",

author = "Alexander Bagno and Alexander Tarasyev and Alexander Tarasyev",

note = "The work was performed as part of research conducted in the Ural Mathematical Center with the financial support of the Ministry of Science and Higher Education of the Russian Federation (Agreement number 075-02-2021-1383).",

year = "2023",

doi = "10.1063/5.0162139",

language = "English",

volume = "2849",

journal = "AIP Conference Proceedings",

issn = "0094-243X",

publisher = "American Institute of Physics Publising LLC",

number = "1",

}

RIS

TY - JOUR

T1 - Realization of grid approximation schemes for Hamilton–jacobi equations in economic growth models

AU - Bagno, Alexander

AU - Tarasyev, Alexander

N1 - The work was performed as part of research conducted in the Ural Mathematical Center with the financial support of the Ministry of Science and Higher Education of the Russian Federation (Agreement number 075-02-2021-1383).

PY - 2023

Y1 - 2023

N2 - The paper is devoted to the problem of construction of value functions in optimal control problems on infinite horizon for economic growth models. Grid approximation schemes for stationary Hamilton-Jacobi equations are realized for numerical calculation of value functions and optimal controls. For compactification of the grid domain and the range of the value function a series of nonlinear changes of variables are implemented for generating the contraction-mapping operators in the convergent approximation schemes. A special sample of economic growth model is used for verification of calculation results for value functions and optimal controls in grid approximation schemes.

AB - The paper is devoted to the problem of construction of value functions in optimal control problems on infinite horizon for economic growth models. Grid approximation schemes for stationary Hamilton-Jacobi equations are realized for numerical calculation of value functions and optimal controls. For compactification of the grid domain and the range of the value function a series of nonlinear changes of variables are implemented for generating the contraction-mapping operators in the convergent approximation schemes. A special sample of economic growth model is used for verification of calculation results for value functions and optimal controls in grid approximation schemes.

UR - http://www.scopus.com/inward/record.url?partnerID=8YFLogxK&scp=85176784985

U2 - 10.1063/5.0162139

DO - 10.1063/5.0162139

M3 - Conference article

VL - 2849

JO - AIP Conference Proceedings

JF - AIP Conference Proceedings

SN - 0094-243X

IS - 1

M1 - 090006

ER -

ID: 48509866