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dc.contributor.authorFella, Giulioen_US
dc.date.accessioned2011-05-04en_US
dc.date.accessioned2012-02-09T14:06:44Z-
dc.date.available2012-02-09T14:06:44Z-
dc.date.issued2011en_US
dc.identifier.urihttp://hdl.handle.net/10419/55173-
dc.description.abstractThis paper extends Carroll's (2006) endogenous grid method and its combination with value function iteration by Barillas and Fernández-Villaverde (2007) to non-concave problems. The method is illustrated using a consumer problem in which consumers choose both durable and non-durable consumption. The durable choice is discrete and subject to non-convex adjustment costs. The algorithm yields substantial gains in accuracy and computational time relative to value function iteration, the standard solution choice for non-concave problems.en_US
dc.language.isoengen_US
dc.publisherQueen Mary, Univ. of London, School of Economics and Finance Londonen_US
dc.relation.ispartofseriesWorking Paper // School of Economics and Finance, Queen Mary, University of London 677en_US
dc.subject.jelC63en_US
dc.subject.ddc330en_US
dc.subject.keywordendogenous grid methoden_US
dc.subject.keywordnon-concavityen_US
dc.subject.stwKonsumentenverhaltenen_US
dc.subject.stwDauerhaftes Konsumguten_US
dc.subject.stwTheorieen_US
dc.titleA generalized endogenous grid method for non-concave problemsen_US
dc.typeWorking Paperen_US
dc.identifier.ppn657100080en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:Working Paper Series, School of Economics and Finance, Queen Mary, University of London

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