Richardson extrapolation allows truncation of higher-order digital nets and sequences.

We study numerical integration of smooth functions defined over the |$s$| -dimensional unit cube. A recent work by Dick et al. (2019 , Richardson extrapolation of polynomial lattice rules. SIAM J. Numer. Anal. , 57 , 44–69) has introduced so-called extrapolated polynomial lattice rules, which achieve the almost optimal rate of convergence for numerical integration, and can be constructed by the fast component-by-component search algorithm with smaller computational costs as compared to interlaced polynomial lattice rules. In this paper we prove that, instead of polynomial lattice point sets, truncated higher-order digital nets and sequences can be used within the same algorithmic framework to explicitly construct good quadrature rules achieving the almost optimal rate of convergence. The major advantage of our new approach compared to original higher-order digital nets is that we can significantly reduce the precision of points, i.e. the number of digits necessary to describe each quadrature node. This finding has a practically useful implication when either the number of points or the smoothness parameter is so large that original higher-order digital nets require more than the available finite-precision floating-point representations. [ABSTRACT FROM AUTHOR]