Solving Internal Habit Formation Models Through Dynamic Programming in Infinite Dimension

Solving Consumption Models with Habit Formation

The intuition for this equation is as follows. If λ, the parameter which controls how fast habits catch up with consumption, is equal to zero equation (6) reduces to the normal first order condition for the standard consumption optimization problem, which tells us that increasing consumption by today and reducing it by R in the next period must not change expected discounted utility. If λ is no...

Utility Maximization with Habit Formation: Dynamic Programming and Stochastic PDEs

Solving models with external habit

Habit utility has been the focus of a large and growing body of literature in financial economics. This study investigates ways of accurately and efficiently solving the Campbell and Cochrane [1999. Journal of Political Economy 107, 205–251] external habit model. Solutions for this model based on a grid of values for the state variable are shown to converge as the grid becomes increasingly fine...

Finitistic Dimension through Infinite Projective Dimension

We show that an artin algebra Λ having at most three radical layers of infinite projective dimension has finite finitistic dimension, generalizing the known result for algebras with vanishing radical cube. We also give an equivalence between the finiteness of fin.dim.Λ and the finiteness of a given class of Λ-modules of infinite projective dimension.

infinite dimensional garch models

مدلهای گارچ در فضاهای هیلبرت پایان نامه حاضر شامل دو بخش می باشد. در قسمت اول مدلهای اتورگرسیو تعمیم یافته مشروط به ناهمگنی واریانس در فضاهای هیلبرت را معرفی، مفاهیم ریاضی مورد نیاز در تحلیل این مدلها در دامنه زمان را مطرح کرده و آنها را مورد بررسی قرار می دهیم. بر اساس پیشرفتهایی که اخیرا در زمینه تئوری داده های تابعی و آماره های عملگری ایجاد شده است، فرآیندهایی که دارای مقادیر در فضاهای ...