Properties of Solutions for a Functional Equation Arising in Dynamic Programming

Zeqing Liu (), Haijiang Dong (), Shin Min Kang () and Sunhong Lee ()
Additional contact information
Zeqing Liu: Liaoning Normal University
Haijiang Dong: Liaoning Normal University
Shin Min Kang: Gyeongsang National University
Sunhong Lee: Gyeongsang National University

Journal of Optimization Theory and Applications, 2013, vol. 157, issue 3, No 7, 696-715

Abstract: Abstract This paper is concerned with a new functional equation arising in dynamic programming of multistage decision processes. Utilizing the Banach fixed point theorem and iterative algorithms, we prove the existence, uniqueness, and iterative approximations of solutions for the functional equation in Banach spaces and a complete metric space, respectively. Some error estimates between the iterative sequences generated by iterative algorithms and the solutions are discussed. Five examples are constructed to illustrate the results presented in this paper.

Keywords: Functional equation; Dynamic programming; Solution; Nonexpansive mapping; Banach fixed point theorem (search for similar items in EconPapers)
Date: 2013
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://link.springer.com/10.1007/s10957-012-0191-6 Abstract (text/html)
Access to the full text of the articles in this series is restricted.

Related works:
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:spr:joptap:v:157:y:2013:i:3:d:10.1007_s10957-012-0191-6

Ordering information: This journal article can be ordered from
http://www.springer. ... cs/journal/10957/PS2

DOI: 10.1007/s10957-012-0191-6

Access Statistics for this article

Journal of Optimization Theory and Applications is currently edited by Franco Giannessi and David G. Hull

More articles in Journal of Optimization Theory and Applications from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().