I show that the Parameterized Expectations Algorithm (PEA) can be naturally generalized via the bias-corrected Monte Carlo (bc-MC) operator, initially proposed to solve economic models using neural networks. When combined with a parameterized …
Artificial Neural Networks (ANNs) are powerful tools that can solve dynamic programming problems arising in economics. In this context, estimating ANN parameters involves minimizing a loss function based on the model's stochastic functional …