Analysis of a Numerical Dynamic Programming Algorithm Applied to Economic Models
开发了动态规划算法的离散化版本，研究其收敛性和稳定性，证明值函数二次收敛、策略函数线性收敛，并讨论在增长模型中的应用。
In this paper we develop a discretized version of the dynamic programming algorithm and study its convergence and stability properties. We show that the computed value function converges quadratically to the true value function and that the computed policy function converges linearly, as the mesh size of the discretization converges to zero; further, the algorithm is stable. We also discuss several aspects of the implementation of our procedures as applied to some commonly studied growth models.