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A note on dynamic programming with homogeneous functions

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Author Info
Nancy L. Stokey

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Abstract

This note shows that basic theorems of dynamic programming hold when the return function is homogeneous of degree theta <= 1.

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File URL: http://minneapolisfed.org/research/DP/DP109.pdf
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Publisher Info
Paper provided by Federal Reserve Bank of Minneapolis in its series Discussion Paper / Institute for Empirical Macroeconomics with number 109.

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Date of creation: 1996
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Handle: RePEc:fip:fedmem:109

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Related research
Keywords: Programming (Mathematics) ; Econometrics;

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