Necessary and Sufficient Conditions for a Solution of the Bellman Equation to be the Value Function: A General Principle
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- handle: 10670/1.dy30wp
- halshs: halshs-01159177
info:eu-repo/semantics/OpenAccess
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dynamic programming Bellman equation value function fixed point C - Mathematical and Quantitative Methods/C.C6 - Mathematical Methods • Programming Models • Mathematical and Simulation Modeling/C.C6.C61 - Optimization Techniques • Programming Models • Dynamic AnalysisSujets proches
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Takashi Kamihigashi et al., « Necessary and Sufficient Conditions for a Solution of the Bellman Equation to be the Value Function: A General Principle », HAL-SHS : économie et finance, ID : 10670/1.dy30wp
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In this paper, we give Necessary and Sufficient Conditions for a Solution of the Belman Equation to be the Value Function. This result is a general principle. It requires no structure beyond the common framework of discrete-time stationary optimization problems with time-additive returns. In particular, the state space X is an arbitrary set.