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An application of Kleene's fixed point theorem to dynamic programming

Takashi Kamihigashi, Kevin Reffett and Masayuki Yao

International Journal of Economic Theory, 2015, vol. 11, issue 4, 429-434

Abstract: type="main" xml:lang="en"> We show that the least fixed point of the Bellman operator in a certain set can be computed by value iteration whether or not the fixed point is the value function. As an application, we give a simpler proof of one of Kamihigashi's main results.

Date: 2015
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Handle: RePEc:bla:ijethy:v:11:y:2015:i:4:p:429-434