A Fixed Point Theorem and an Application to Bellman Operators ()
Affiliation(s)
ABSTRACT
This study introduces a new definition of a metric that corresponds with the topology of uniform convergence on any compact set, and shows both the existence of a unique fixed point of some operator by using this metric and that the iteration of such an operator results in convergence to this fixed point. We demonstrate that this result can be applied to Bellman operators in many situations involving economic dynamics.
KEYWORDS
Share and Cite:
Copyright © 2024 by authors and Scientific Research Publishing Inc.
This work and the related PDF file are licensed under a Creative Commons Attribution 4.0 International License.