Borewells for groundwater extraction have proliferated across South Asia, encouraged by subsidized electricity for pumping. Because borewells operating near one another experience mutually attenuated discharges and higher failure rates, farmers deciding whether and when to drill interact...

This paper proposes a procedure for the estimation of discrete Markov decision models and studies its statistical and computational properties. Our Nested Pseudo-Likelihood method (NPL) is similar to Rust's Nested Fixed Point algorithm (NFXP), but the order of the two nested algorithms is...

This paper proposes a new nested algorithm (NPL) for the estimation of a class of discrete Markov decision models and studies its statistical and computational properties. Our method is based on a representation of the solution of the dynamic programming problem in the space of conditional...