Existence and Uniqueness of a Fixed Point for the Bellman Operator in Deterministic Dynamic Programming

Takashi Kamihigashi

No DP2011-23, Discussion Paper Series from Research Institute for Economics & Business Administration, Kobe University

Abstract: We study existence and uniqueness of a fixed point for the Bellman operator in deterministic dynamic programming. We show that removing many of the assumptions of the theorem on the Bellman operator recently shown by Martins-da-Rocha and Vailakis ("Existence and Uniqueness of a Fixed Point for Local Contractions," Econometrica 78, 1127-1141, 2010) does not affect its main conclusions concerning the existence and uniqueness of a fixed point. Under considerably weaker versions of the remaining assumptions, we also show that the value function can be computed by value iteration with an appropriate initial function.

Pages: 15 pages
Date: 2011-07
New Economics Papers: this item is included in nep-dge
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://www.rieb.kobe-u.ac.jp/academic/ra/dp/English/DP2011-23.pdf First version, 2011 (application/pdf)

Related works:
Working Paper: Existence and Uniqueness of a Fixed Point for the Bellman Operator in Deterministic Dynamic Programming (2012)
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:kob:dpaper:dp2011-23

Access Statistics for this paper

More papers in Discussion Paper Series from Research Institute for Economics & Business Administration, Kobe University 2-1 Rokkodai, Nada, Kobe 657-8501 JAPAN. Contact information at EDIRC.
Bibliographic data for series maintained by Office of Promoting Research Collaboration, Research Institute for Economics & Business Administration, Kobe University ().