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In this paper, the Partial Distribution (PD) and multivariate Partial Distribution (MPD) are presented in their concepts, properties and applications, and PD is compared with the lognormal and the levy distribution. Though the levy distribution is better to describe the exchange returns in...
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This paper compares the performance of the Howard (1960) policy iteration algorithm for infinite-horizon continuous-state Markovian decision processes (MDP's) using alternative random, quasi-random, and deterministic discretizations of the state space, or grids. Each grid corresponds to an...
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