Simula@BI: Dynamic Programming on a Quantum Annealer: Solving the RBC Model
Speaker: Visiting Associate Professor of Finance Isaiah Hull, Sveriges Riksbank, BI Norwegian Business School
We introduce a novel approach for solving dynamic programming problems on a quantum annealer, which is a specialized device that performs combinatorial optimization. Quantum annealers attempt to solve an NP-hard problem, start in a quantum superposition of all states, and generate candidate global solutions in milliseconds, irrespective of problem size. Although quantum annealers are not yet a mature technology, we demonstrate that the current vintage of devices is already capable of achieving an order-of-magnitude speed-up in solving the real business cycle model over benchmarks in the literature. We also provide a detailed introduction to quantum annealing and discuss its potential future use on more challenging economic problems.
The full paper is available on his coauthor's website:
In addition to this, Hull will also provide a very brief introduction to quantum computing at the start of the presentation. It will be based on the paper Quantum Technology for Economists.
- Time:Tuesday, 25 October 2022 12:00 - 13:00
- Location:At BI, C2-030
- Contact:Siri Johnsen (firstname.lastname@example.org)