Doraszelski, Ulrich; Judd, Kenneth L. - In: Quantitative economics : QE ; journal of the … 3 (2012) 1, pp. 53-93
Discrete-time stochastic games with a finite number of states have been widely applied to study the strategic interactions among forward-looking players in dynamic environments. These games suffer from a “curse of dimensionality” when the cost of computing players’ expectations over all...