This paper characterizes the behavior of value functions in dynamic stochastic discounted programming models near fixed points of the state space. When the second derivative of the flow payoff function is bounded, the value function is proportional to a linear function plus xψδ . A specific formula for ψδ is provided, which implies ψδ continuously falls in the rate of patience. If the state var...

We show that, in spite of a rather common opinion, quantum mechanics can be represented as an approximation of classical statistical mechanics. The approximation under consideration is based on the ordinary Taylor expansion of physical variables. The quantum contribution is given by the term of the second order. To escape technical difficulties related to the infinite dimension of phase space f...

In this paper an efficient, simulation-based, maximum likelihood (ML) method is proposed for estimating Taylor’s stochastic volatility (SV) model. The new method is based on the second order Taylor approximation to the integrand. The approximation enables us to transfer the numerical problem in the Laplace approximation and that in importance sampling into the problem of inverting two high dime...

Using the Taylor expansion method, we show that it is possible to improve the lattice Boltzmann method for acoustic applications. We derive a formal expansion of the eigenvalues of the discrete approximation and fit the parameters of the scheme to enforce fourth order accuracy. The corresponding discrete equations are solved with the help of symbolic manipulation. The solutions are obtained in ...

This paper describes a fast search algorithm f o r warping motion compensation schemes which is bused on a first order approximation of a Taylor series. In comparison to a full search algorithm the technique significantly reduces the required computational load (by a factor of approximately f i f ty) whilst maintaining the performance in terms of prediction error. Further gains in prediction er...

A second-order Taylor series expansion of the free energy functional provides analytical expressions for the magnetic field dependence of the free energy and of the magnetization of ferrofluids, here modeled by dipolar Yukawa interaction potentials. The corresponding hard core dipolar Yukawa reference fluid is studied within the framework of the mean spherical approximation. Our findings for th...

Two families of observers for discrete-time nonlinear systems are presented in this paper, whose design is based on the Taylor approximation of the inverse of the observation map. Semiglobal convergence results are provided under the assumption that the system observation map is a globally analytic diffeomorphism. The performances of the observers in the two families are compared both from theo...

A new type of Taylor series based 2-D finite difference approximation is presented, and it is shown that the coefficients of these approximations are not unique. Explicit formulas are presented for one of the possible sets of coefficients for an arbitrary order, by extending the previously presented 1-D approximations. These coefficients are implemented as maximally linear 2-D FIR digital diffe...

We study the numerical approximation of a time dependent equation involving fractional powers of an elliptic operator L defined to be the unbounded operator associated with a Hermitian, coercive and bounded sesquilinear form on H 0 (Ω). The time dependent solution u(x, t) is represented as a Dunford Taylor integral along a contour in the complex plane. The contour integrals are approximated usi...

We present a method of enhanced convergence for the approximation of analytic functions. This method introduces conformal transformations in the approximation problems in order to help extract the values of a given analytic function from its Taylor expansion. We show that conformal transformations can extend the radius of convergence of a power series far into infinity, enhance substantially it...