Search results for "JEL: C61"

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

2008

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 (1964) and 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.

[ MATH.MATH-OC ] Mathematics [math]/Optimization and Control [math.OC]Dynamic programmingBellman equationUnbounded returnsjel:C61JEL: C61 O41[MATH.MATH-OC] Mathematics [math]/Optimization and Control [math.OC][SHS.ECO]Humanities and Social Sciences/Economics and FinanceDynamic programmingjel:O41Bellman equationUnbounded returnsDynamic Programming; Bellman Equation; Unbounded Returns[ SHS.ECO ] Humanities and Social Sciences/Economies and finances[MATH.MATH-OC]Mathematics [math]/Optimization and Control [math.OC][SHS.ECO] Humanities and Social Sciences/Economics and Finance
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