On Dynamic Programming with Unbounded Returns
AbstractSome economic models like those of endogenous growth motivate the analysis of a class of recursive models sharing the property that the return function is not bounded along feasible paths. We consider a strategy of proof which allows to deal with many unbounded recursive models exploiting bounds to the rates of growth rather than to the levels.
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Bibliographic InfoPaper provided by Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES) in its series Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) with number 1997033.
Date of creation: 01 Nov 1997
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dynamic programming; recursive preferences; unbounded returns; contraction mappings; weighted norms;
Other versions of this item:
- C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
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