HIGHLIGHTS
- who: Herbert Dawid from the Department of Business Administration and Economics and Center for Mathematical Economics, Bielefeld University, Bielefeld, Germany have published the Article: Numerical Analysis of Markov-Perfect Equilibria with Multiple Stable Steady States: A Duopoly Application with Innovative Firms, in the Journal: (JOURNAL)
- what: The aim of this paper is to fill this gap. The authors propose an adaptation of a collocation algorithm, where 'local value functions' on parts of the state space are generated and the actual value function of the game is found as the upper envelope of these local value . . .
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