An Order-Theoretic Approach to Dynamic Programming: An Exposition

No DP2013-29, Discussion Paper Series from Research Institute for Economics & Business Administration, Kobe University

Abstract: In this note, we discuss an order-theoretic approach to dynamic programming. In particular, we explain how order-theoretic fixed point theorems can be used to establish the existence of a fixed point of the Bellman operator, as well as why they are not sufficient to characterize the value function. By doing this, we present the logic behind the simple yet useful result recently obtained by Kamihigashi (2013) based on this order-theoretic approach.

Keywords: Dynamic programming; Bellman equation; Value function; Fixed point (search for similar items in EconPapers)
JEL-codes: C61 (search for similar items in EconPapers)
Pages: 11 pages
Date: 2013-10, Revised 2013-11
New Economics Papers: this item is included in nep-dge
References: Add references at CitEc
Citations: View citations in EconPapers (9)

Downloads: (external link)
https://www.rieb.kobe-u.ac.jp/academic/ra/dp/English/DP2013-29.pdf Revised version, 2013 (application/pdf)

Related works:
Journal Article: An order-theoretic approach to dynamic programming: an exposition (2014)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:kob:dpaper:dp2013-29

Access Statistics for this paper

More papers in Discussion Paper Series from Research Institute for Economics & Business Administration, Kobe University 2-1 Rokkodai, Nada, Kobe 657-8501 JAPAN. Contact information at EDIRC.
Bibliographic data for series maintained by Office of Promoting Research Collaboration, Research Institute for Economics & Business Administration, Kobe University ().