Existence and Uniqueness of Solutions to the Bellman Equation in the Unbounded Case.

We study the problem of the existence and uniqueness of solutions to the Bellman equation in the presence of unbounded returns. We introduce a new approach based both on consideration of a metric on the space of all continuous functions over the state space, and on the application of some metric fix...

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Bibliographic Details

Published in:	Econometrica Vol. 71; no. 5; pp. 1519 - 1556
Main Authors:	Rincón-Zapatero, Juan Pablo, Rodríguez-Palmero, Carlos
Format:	Article
Published:	Wiley-Blackwell September 2003
Subjects:	Dynamic programming Nonlinear programming
Online Access:	View this record in EBSCOhost