Working paper N. 766 Dicembre 2017
Hans M. Amman
Faculty of Economics and Business, University of Amsterdam
Marco P. Tucci
DEPS, USiena
Abstract
In this paper we deliver the solution for the DUAL approach Kendrick (1981;2002) with an infinite horizon. The results of this solutions form the basis for the paper Amman and Tucci (2017).
Keywords
Optimal experimentation, value function, approximation method, adaptive control, active learning, time-varying parameters, numerical experiments.
Jel Codes
C63, E61, E62
