%A Hui He, Hao Zhang %T A Rapid Grid Search Method for Solving Dynamic Programming Problems in Economics %0 Journal Article %D 2013 %J Front. Econ. China %J Frontiers of Economics in China %@ 1673-3444 %R 10.3868/s060-002-013-0013-4 %P 260-271 %V 8 %N 2 %U {https://journal.hep.com.cn/fec/EN/10.3868/s060-002-013-0013-4 %8 2013-06-05 %X

We introduce a rapid grid search method in solving dynamic programming problems in economics. Compared to mainstream grid search methods, by using local information of the Bellman equation, this method can significantly increase the efficiency in solving dynamic programming problems by reducing the grid points searched in the control space.