Mathematics for Economists

(Greg DeLong) #1

Dynamic programming


The conditions of the above theorem are quite reasonable. They are (just)
guaranteeing the existence of the optimum.

(^1) rt(s,a)is continuous onSAfor everyt.
(^2) ft(s,a)is continuous onSAfor everyt.
(^3) Φtis a continuous, non-empty and compact valued correspondence.

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