Necessary and Sufficient Conditions for a Solution of the Bellman Equation to be the Value Function: A General Principle

Takashi Kamihigashi and Cuong Le Van ()
Additional contact information
Cuong Le Van: CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique, PSE - Paris School of Economics - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - ENPC - École nationale des ponts et chaussées - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, IPAG - Business School, VCREME - Van Xuan Center of Research in Economics, Management and Environment

Post-Print from HAL

Abstract: In this paper, we give Necessary and Sufficient Conditions for a Solution of the Belman Equation to be the Value Function. This result is a general principle. It requires no structure beyond the common framework of discrete-time stationary optimization problems with time-additive returns. In particular, the state space X is an arbitrary set.

Keywords: dynamic programming; Bellman equation; value function; fixed point (search for similar items in EconPapers)
Date: 2015-01
New Economics Papers: this item is included in nep-mic
Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-01159177v1
References: View references in EconPapers View complete reference list from CitEc
Citations:

Published in 2015

Downloads: (external link)
https://shs.hal.science/halshs-01159177v1/document (application/pdf)

Related works:
Working Paper: Necessary and Sufficient Conditions for a Solution of the Bellman Equation to be the Value Function: A General Principle (2015)
Working Paper: Necessary and Sufficient Conditions for a Solution of the Bellman Equation to be the Value Function: A General Principle (2015)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:halshs-01159177

Access Statistics for this paper

More papers in Post-Print from HAL
Bibliographic data for series maintained by CCSD ().