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PKP Metadata Items |
Metadata for this document |
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| 1. |
Title |
Title of document |
Existence and uniqueness of solutions to the Bellman equation in stochastic dynamic programming |
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| 2. |
Creator |
Author's name, affiliation |
Juan Pablo Rincón-Zapatero; Departamento de Economía. Universidad Carlos III de Madrid |
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Subject |
Subject(s) |
Stochastic dynamic programming, Bellman equation, contraction mapping, weighted contraction, local contraction, Q-transform, endogenous growth |
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Subject |
Subject classification |
C61, E20 |
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| 4. |
Description |
Abstract |
In this paper we develop a framework to analyze stochastic dynamic optimization problems in discrete time. We obtain new results about the existence and uniqueness of solutions to the Bellman equation through a notion of Banach contractions that generalizes known results for Banach and local contractions. We apply the results obtained to an endogenous growth model and compare our approach with other well known methods, such as the weighted contraction method, countable local contractions and the Q-transform. |
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Publisher |
Organizing agency, location |
Econometric Society |
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Contributor |
Sponsor(s) |
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| 7. |
Date |
(YYYY-MM-DD) |
2024-07-24 |
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Type |
Status & genre |
Peer-reviewed Article |
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Type |
Type |
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| 9. |
Format |
File format |
pdf
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| 10. |
Identifier |
Universal Resource Indicator |
https://econtheory.org/ojs/index.php/te/article/view/20241223 |
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| 11. |
Source |
Journal/conference title; vol., no. (year) |
Theoretical Economics; Volume 19, Number 3 (July 2024) |
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Language |
English=en |
en |
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| 15. |
Rights |
Copyright and permissions |
Authors who publish in Theoretical Economics will release their articles under the Creative Commons Attribution-NonCommercial license. This license allows anyone to copy and distribute the article for non-commercial purposes provided that appropriate attribution is given. |