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-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.

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Year of publication:	2008-07-28
Authors:	Van, Cuong Le ; Morhaim, Lisa ; Vailakis, Yiannis
Institutions:	HAL
Subject:	Dynamic programming \| Bellman equation \| Unbounded returns

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Extent:	application/pdf
Series:	Working Papers.
Type of publication:	Book / Working Paper
Notes:	View the original document on HAL open archive server: http://hal.archives-ouvertes.fr/hal-00294828
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10009643770