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

Takashi Kamihigashi

No DP2012-05, 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. Without any topological assumption, we show that the Bellman operator has a unique fixed point in a restricted domain, that this fixed point is the value function, and that the value function can be computed by value iteration.

Keywords: Dynamic programming; Bellman operator; Value function; Fixed point (search for similar items in EconPapers)
JEL-codes: C61 (search for similar items in EconPapers)
Pages: 14 pages
Date: 2012-02
New Economics Papers: this item is included in nep-dge
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Citations: View citations in EconPapers (6)

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Related works:
Working Paper: Existence and Uniqueness of a Fixed Point for the Bellman Operator in Deterministic Dynamic Programming (2011)
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Persistent link: https://EconPapers.repec.org/RePEc:kob:dpaper:dp2012-05

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