IDEAS home Printed from https://ideas.repec.org/a/kap/compec/v12y1998i3p203-22.html
   My bibliography  Save this article

The Nonconvexities Problem in Adaptive Control Models: A Simple Computational Solution

Author

Listed:
  • Tucci, Marco P

Abstract

In the last few years new attention has been paid to the problem of nonconvexities in the cost-to-go function in adaptive control models. Using analytical methods, it can be found that nonconvexities are caused by the probing component of the total cost-to-go (Mizrach, 1991) or by the cautionary component of the cost-to-go (Amman and Kendrick, 1995). In this paper a simple algorithm based on the usual gradient methods, able to detect the presence of nonconvexities in an adaptive control problem and to find the global optimum, is presented and its effectiveness is studied in a Monte Carlo experiment. The simulations reported show that this code seems well suited for most of the situations likely to occur in empirical studies. In the future this algorithm must be tested in larger models to see if these results hold in more complex situations. Citation Copyright 1998 by Kluwer Academic Publishers.

Suggested Citation

  • Tucci, Marco P, 1998. "The Nonconvexities Problem in Adaptive Control Models: A Simple Computational Solution," Computational Economics, Springer;Society for Computational Economics, vol. 12(3), pages 203-222, December.
    • Handle: RePEc:kap:compec:v:12:y:1998:i:3:p:203-22
    as

    Download full text from publisher

    File URL: http://journals.kluweronline.com/issn/0927-7099/contents
    Download Restriction: Access to the full text of the articles in this series is restricted.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Tucci, Marco P. & Kendrick, David A. & Amman, Hans M., 2010. "The parameter set in an adaptive control Monte Carlo experiment: Some considerations," Journal of Economic Dynamics and Control, Elsevier, vol. 34(9), pages 1531-1549, September.
    2. D.A. Kendrick & H.M. Amman & M.P. Tucci, 2008. "Learning About Learning in Dynamic Economic Models," Working Papers 08-20, Utrecht School of Economics.
    3. Bond, Craig A., 2008. "On the Potential Use of Adaptive Control Methods for Improving Adaptive Natural Resource Management," Working Papers 108721, Colorado State University, Department of Agricultural and Resource Economics.
    4. repec:use:tkiwps:2020 is not listed on IDEAS
    5. Novella Maugeri, 2014. "Some Pitfalls in Smooth Transition Models Estimation: A Monte Carlo Study," Computational Economics, Springer;Society for Computational Economics, vol. 44(3), pages 339-378, October.
    6. Tucci, Marco P., 2002. "A note on global optimization in adaptive control, econometrics and macroeconomics," Journal of Economic Dynamics and Control, Elsevier, vol. 26(9-10), pages 1739-1764, August.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:kap:compec:v:12:y:1998:i:3:p:203-22. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.