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

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.

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Year of publication:	2014-06-27
Authors:	Kamihigashi, Takashi ; Reffett, Kevin ; Yao, Masayuki
Institutions:	Institut de Préparation à l'Administration et à la Gestion (IPAG)
Subject:	Dynamic programming \| Bellman equation \| value function \| xed point

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Extent:	application/pdf
Series:	Working Papers.
Type of publication:	Book / Working Paper
Notes:	Number 2014-398 9 pages
Classification:	C61 - Optimization Techniques; Programming Models; Dynamic Analysis
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010786604