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Solving Dynamic Economic Models with Nonconvexities Due to Fixed Costs

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  • Hussey, Robert M

Abstract

An algorithm is developed for solving nonlinear dynamic models in which one of the control variables is discrete. This structure is particularly relevant to economic models with fixed costs. The methodology is a generalization of discrete state space Euler equation methods for solving dynamic models. Citation Copyright 1997 by Kluwer Academic Publishers.

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  • Hussey, Robert M, 1997. "Solving Dynamic Economic Models with Nonconvexities Due to Fixed Costs," Computational Economics, Springer;Society for Computational Economics, vol. 10(4), pages 377-386, November.
    • Handle: RePEc:kap:compec:v:10:y:1997:i:4:p:377-86
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    Cited by:

    1. Kantabutra, Sooksan, 2011. "Examining store manager effects in consumer and staff satisfaction: Evidence from Thailand," Journal of Retailing and Consumer Services, Elsevier, vol. 18(1), pages 46-57.
    2. Janne Rämö & Olli Tahvonen, 2017. "Optimizing the Harvest Timing in Continuous Cover Forestry," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 67(4), pages 853-868, August.

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