An application of Kleene's fixed point theorem to dynamic programming

Takashi Kamihigashi, Kevin Reffett, Masayuki Yao

Research output: Contribution to journalArticle

3 Scopus citations

Abstract

We show that the least fixed point of the Bellman operator in a certain set can be computed by value iteration whether or not the fixed point is the value function. As an application, we give a simpler proof of one of Kamihigashi's main results.

Original languageEnglish (US)
Pages (from-to)429-434
Number of pages6
JournalInternational Journal of Economic Theory
Volume11
Issue number4
DOIs
StatePublished - Dec 1 2015

Keywords

  • Bellman equation
  • Dynamic programming
  • Fixed point
  • Value function

ASJC Scopus subject areas

  • Economics and Econometrics

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