Monotone concave operators: An application to the existence and uniqueness of solutions to the Bellman equation

We propose a new approach to the issue of existence and uniqueness of solutions to the Bellman equation, exploiting an emerging class of methods, called monotone map methods, pioneered in the work of Krasnosel’skii (1964) and Krasnosel’skii-Zabreiko (1984). The approach is technically simple and intuitive. It is derived from geometric ideas related to the study of fixed points for monotone concave operators defined on partially order spaces.

MoreLess

Year of publication:	2008
Authors:	Van, Cuong Le ; Morhaim, Lisa ; Vailakis, Yiannis
Institutions:	Business School, University of Exeter
Subject:	Dynamic Programming \| Bellman Equation \| Unbounded Returns

freely available

Full text |

More access options

Check Google Scholar

In German libraries (KVK)

I need help

More details

Extent:	application/pdf
Series:	Discussion Papers.
Type of publication:	Book / Working Paper
Language:	English
Notes:	Number 0803
Classification:	C61 - Optimization Techniques; Programming Models; Dynamic Analysis ; O41 - One, Two, and Multisector Growth Models
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10008852515