Monotone Concave Operators: An application to the existence and uniqueness of solutions to the Bellman equation

Cuong Le van, Lisa Morhaim and Yiannis Vailakis ()
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Lisa Morhaim: CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique, IMB - Institut de Mathématiques de Bourgogne [Dijon] - UB - Université de Bourgogne - CNRS - Centre National de la Recherche Scientifique
Yiannis Vailakis: School of Business and Economics - University of Exeter

Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) from HAL

Abstract: 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.

Keywords: Dynamic programming; Bellman equation; Unbounded returns (search for similar items in EconPapers)
Date: 2008-07-28
Note: View the original document on HAL open archive server: https://hal.science/hal-00294828v1
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Citations: View citations in EconPapers (7)

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Working Paper: Monotone concave operators: An application to the existence and uniqueness of solutions to the Bellman equation (2008)
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