Continuation Value Methods for Sequential Decisions: A General Theory
After the introductory chapter, this thesis comprises four main chapters before concluding in chapter 6. The thesis undertakes a systematic analysis of the con- tinuation value based method for sequential decision problems originally due to Jovanovic (1982). Although recently this technique is widely employed in a va- riety of economic applications, its theoretical connections to the traditional value function based method, relative efficiency, and...[Show more]
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