On dynamic programming with unbounded returns
Some 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.
Volume (Year): 15 (2000)
Issue (Month): 2 ()
|Note:||Received: December 15, 1997; revised version: April 23, 1999|
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