On dynamic programming with unbounded returns

Some economic models like those of endogenous growth motivate the analysis of a class of recursive models sharing the property that the return function is not bounded along feasible paths. We consider a strategy of proof which allows to deal with many unbounded recursive models exploiting bounds to the rates of growth rather than to the levels.

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Year of publication:	2000-02-21
Authors:	DurÂn, Jorge
Published in:	Economic Theory. - Springer. - Vol. 15.2000, 2, p. 339-352
Publisher:	Springer
Subject:	Dynamic programming \| Unbounded returns \| Non additive objective

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Extent:	application/pdf
Type of publication:	Article
Notes:	Received: December 15, 1997; revised version: April 23, 1999
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005753412