DYNAMIC-PROGRAMMING WITH HOMOGENEOUS FUNCTIONS

Citation
F. Alvarez et Nl. Stokey, DYNAMIC-PROGRAMMING WITH HOMOGENEOUS FUNCTIONS, Journal of economic theory (Print), 82(1), 1998, pp. 167-189
Citations number
12
Categorie Soggetti
Economics
ISSN journal
00220531
Volume
82
Issue
1
Year of publication
1998
Pages
167 - 189
Database
ISI
SICI code
0022-0531(1998)82:1<167:DWHF>2.0.ZU;2-G
Abstract
We show that the basic existence, uniqueness, and convergence results of dynamic programming hold when the return function is homogeneous of degree 0 less than or equal to 1 and the constraints are homogeneous of degree one. (C) 1998 Academic Press.