Handbook of Computational Economics (Volume 1) (Vol 1) (Handbooks in Economics, 13)

__Handbook of Computational Economics__ summarizes recent advances in economic thought, revealing some of the potential offered by modern computational methods. With computational power increasing in hardware and algorithms, many economists are closing the gap between economic practice and the frontiers of computational mathematics. In their efforts to accelerate the incorporation of computational power into mainstream research, contributors to this volume update the improvements in algorithms that have sharpened econometric tools, solution methods for dynamic optimization and equilibrium models, and applications to public finance, macroeconomics, and auctions. They also cover the switch to massive parallelism in the creation of more powerful computers, with advances in the development of high-power and high-throughput computing. Much more can be done to expand the value of computational modeling in economics. In conjunction with volume one (1996) and volume two (2006), this volume offers a remarkable picture of the recent development of economics as a science as well as an exciting preview of its future potential. * Samples different styles and approaches, reflecting the breadth of computational economics as practiced today * Focuses on problems with few well-developed solutions in the literature of other disciplines * Emphasizes the potential for increasing the value of computational modeling in economics The aim of this volume is to provide an introduction and selective overview of the rapidly emerging field of computational economics. Computational economics provides an important set of tools that an increasing number of economists will need to acquire in order to understand and do state-of-the-art research in virtually all areas of economics. Articles in the volume range from very applied, policy oriented applications of computational methods, to highly theoretical and mathematically complex analyses of algorithms and numerical methods. The book emphasizes the unique contributions of computational methods in economics, and focuses on problems for which well developed solutions are not already available from the literature in operations research, numerical methods, and computer science. As well as covering relatively mature areas in the field, a number of chapters are included which cover more speculative "frontier topics", in particular recently discovered computational innovations and research results. For more information on the Handbooks in Economics series, please see our homepage on http://www.elsevier.nl/locate/hes

The aim of this volume is to provide an introduction and selective overview of the rapidly emerging field of computational economics. Computational economics provides an important set of tools that an increasing number of economists will need to acquire in order to understand and do state-of-the-art research in virtually all areas of economics.

Articles in the volume range from very applied, policy oriented applications of computational methods, to highly theoretical and mathematically complex analyses of algorithms and numerical methods. The book emphasizes the unique contributions of computational methods in economics, and focuses on problems for which well-developed solutions are not already available from the literature in operations research, numerical methods, and computer science. As well as covering relatively mature areas in the field, a number of chapters are included which cover more speculative "frontier topics", in particular recently discovered computational innovations and research results.

Content: Volume ThreeHandbook of Computational Economics Page i Volume ThreeHandbook of Computational Economics Page iii Copyright Page iv Contributors Pages ix-x Acknowledgments Page xi Introduction to the Series Page xiii Introduction for Volume 3 of the Handbook of Computational Economics Pages xv-xvii Chapter 1 - Learning About Learning in Dynamic Economic Models Pages 1-35 David A. Kendrick, Hans M. Amman, Marco P. Tucci Chapter 2 - On the Numerical Solution of Equilibria in Auction Models with Asymmetries within the Private-Values Paradigm Pages 37-115 Timothy P. Hubbard, Harry J. Paarsch Chapter 3 - Analyzing Fiscal Policies in a Heterogeneous-Agent Overlapping-Generations Economy Pages 117-160 Shinichi Nishiyama, Kent Smetters Chapter 4 - On Formulating and Solving Portfolio Decision and Asset Pricing Problems Pages 161-223 Yu Chen, Thomas F. Cosimano, Alex A. Himonas Chapter 5 - Computational Methods for Derivatives with Early Exercise Features Pages 225-275 Carl Chiarella, Boda Kang, Gunter Meyer, Andrew Ziogas Chapter 6 - Solving and Simulating Models with Heterogeneous Agents and Aggregate Uncertainty Pages 277-324 Yann Algan, Olivier Allais, Wouter J. Den Haan, Pontus Rendahl Chapter 7 - Numerical Methods for Large-Scale Dynamic Economic Models Pages 325-477 Lilia Maliar, Serguei Maliar Chapter 8 - Advances in Numerical Dynamic Programming and New Applications Pages 479-516 Yongyang Cai, Kenneth L. Judd Chapter 9 - Analysis of Numerical Errors Pages 517-556 Adrian Peralta-Alva, Manuel S. Santos Chapter 10 - GPU Computing in Economics Pages 557-598 Eric M. Aldrich Chapter 11 - Computing All Solutions to Polynomial Equations in Economics Pages 599-652 Felix Kubler, Philipp Renner, Karl Schmedders Index Pages 653-662

Handbook of Computational Economics summarizes recent advances in economic thought, revealing some of the potential offered by modern computational methods. With computational power increasing in hardware and algorithms, many economists are closing the gap between economic practice and the frontiers of computational mathematics. In their efforts to accelerate the incorporation of computational power into mainstream research, contributors to this volume update the improvements in algorithms that have sharpened econometric tools, solution methods for dynamic optimization and equilibrium models, and applications to public finance, macroeconomics, and auctions. They also cover the switch to massive parallelism in the creation of more powerful computers, with advances in the development of high-power and high-throughput computing.

Much more can be done to expand the value of computational modeling in economics. In conjunction with volume one (1996) and volume two (2006), this volume offers a remarkable picture of the recent development of economics as a science as well as an exciting preview of its future potential.

• Samples different styles and approaches, reflecting the breadth of computational economics as practiced today
• Focuses on problems with few well-developed solutions in the literature of other disciplines
• Emphasizes the potential for increasing the value of computational modeling in economics