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766. The DUAL Approach in an Infinite Horizon Model

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