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

Kamihigashi Takashi | Zendy; Reffett Kevin | Zendy; Yao Masayuki | Zendy

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

Author(s) -

Kamihigashi Takashi,

Reffett Kevin,

Yao Masayuki

Publication year - 2015

Publication title -

international journal of economic theory

Language(s) - English

Resource type - Journals

SCImago Journal Rank - 0.351

H-Index - 11

eISSN - 1742-7363

pISSN - 1742-7355

DOI - 10.1111/ijet.12074

Subject(s) - fixed point , bellman equation , value (mathematics) , fixed point theorem , mathematics , least fixed point , dynamic programming , set (abstract data type) , operator (biology) , function (biology) , mathematical economics , point (geometry) , mathematical optimization , discrete mathematics , computer science , brouwer fixed point theorem , schauder fixed point theorem , mathematical analysis , statistics , repressor , chemistry , biology , biochemistry , geometry , evolutionary biology , transcription factor , programming language , gene

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.

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