An Application of Kleene's Fixed Point Theorem to Dynamic Programming: A Note

Takashi Kamihigashi, Kevin Reffett and Masayuki Yao

No 2014-398, Working Papers from Department of Research, Ipag Business School

Abstract: In this note, we show that the least xed point of the Bellman op- erator in a certain set can be computed by value iteration whether or not the xed point is the value function. As an application, we show one of the main results of Kamihigashi (2014a) with a simpler proof.

Keywords: Dynamic programming; Bellman equation; value function; xed point. (search for similar items in EconPapers)
JEL-codes: C61 (search for similar items in EconPapers)
Pages: 9 pages
Date: 2014-01-01
New Economics Papers: this item is included in nep-dge
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Citations: View citations in EconPapers (5)

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Working Paper: An Application of Kleene's Fixed Point Theorem to Dynamic Programming: A Note (2014)
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