Problems in the Numerical Simulation of Models with Heterogeneous Agents and Economic Distortions
نویسندگان
چکیده
Our work has been concerned with the numerical simulation of dynamic economies with heterogeneous agents and economic distortions. Recent research has drawn attention to inherent difficulties in the computation of competitive equilibria for these economies: A continuous Markovian solution may fail to exist, and some commonly used numerical algorithms may not deliver accurate approximations. We consider a reliable algorithm set forth in Feng et al. (2009), and discuss problems related to the existence and computation of Markovian equilibria, as well as convergence and accuracy properties. We offer new insights into numerical simulation. JEL classification numbers: C6, D5, E2.
منابع مشابه
کاربرد مدلسازی عددی سهبعدی در شبیهسازی پدیدههای پیچیده مهندسی رودخانه
Most of river engineering problems are complicated and need to be analyzed by three dimensional models of flow and sediment transport. Considering the fact that computers and numerical methods with great ability of flow and sediment transport simulation are developing quickly, using numerical modeling by engineers is inevitable. Nevertheless, before application, numerical models need to be veri...
متن کاملImproved numerical simulation of the low temperature Fischer-Tropsch synthesis in a trickle bed reactor
Abstract Gas to liquid (GTL) process involves heterogeneous catalytic chemical reactions that convert synthesis gas to hydrocarbons and water vapor. A three phase reactor, called Low temperature Fischer-Tropsch (LTFT) is commonly applied for GTL process. In this reactor the gaseous phase includes the synthesis gas, light hydrocarbons and water vapor, the liquid phase is a mixture of the h...
متن کاملThe Methodology of Simulation Models
1.1 In recent years more and more social scientists and in particular economists have been using simulation models. Without doubt numerical approaches—among them most outstanding agent-based approaches—offer a prolific way out of the tight corset which is determining modelling strategies so far for economists (e.g. Pyka and Fagiolo 2007). Accordingly, simulation techniques are applied almost en...
متن کاملNumerical Analysis of Sediment Transport in Sewer Pipe
The efficiency and economical performance of sewer systems is an essential issue in urban drainage. The need for sewers to carry sediment has been recognized for many years. One of the main problems in designing sewerage systems is the sediment deposition. Sedimentation in sewers occurs regularly according to the alternating natural flow. The present study investigates the hydraulic characteris...
متن کاملNumerical Simulation and Estimation of the Transvers Macrodispersivity Coefficient of Aqueous Phase (Miscible) Contaminants of Salt Water in a Heterogeneous and Homogeneous Porous Media
Deterioration of groundwater resources in coastal regions due to the progression of saline water in aquifers in these regions is currently one of the important issues in providing water needs in these areas. In coastal regions, saline water enters the aquifer from below in shape of wedge. Due to the difference in the density between fresh and salty water, an interface zone forms between two flu...
متن کامل