Existence and uniqueness of a fixed-point for local contractions
This paper proves the existence and uniqueness of a fixed-point for local contractions without assuming the family of contraction coefficients to be uniformly bounded away from 1. More importantly it shows how this fixed-point result can apply to study existence and uniqueness of solutions to some recursive equations that arise in economic dynamics.
|Date of creation:||15 May 2008|
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- Janusz Matkowski & Andrzej Nowak, 2011.
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