An Order-Theoretic Approach to Dynamic Programming: An Exposition

In this note, we discuss an order-theoretic approach to dynamic programming. In particular, we explain how order-theoretic fixed point theorems can be used to establish the existence of a fixed point of the Bellman operator, as well as why they are not sufficient to characterize the value function. By doing this, we present the logic behind the simple yet useful result recently obtained by Kamihigashi (2013) based on this order-theoretic approach.

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Year of publication:	2013-10
Authors:	Kamihigashi, Takashi
Institutions:	Research Institute for Economics and Business Administration, Kobe University
Subject:	Dynamic programming \| Bellman equation \| value function \| fixed point

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Extent:	application/pdf
Series:	Discussion Paper Series. - ISSN 1345-2207.
Type of publication:	Book / Working Paper
Notes:	Number DP2013-29 11 pages
Classification:	C61 - Optimization Techniques; Programming Models; Dynamic Analysis
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010822753