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On dynamic programming with unbounded returns. (English) Zbl 1101.91339

Summary: Some economic models like those of endogenous growth motivate the analysis of a class of recursive models sharing the property that the return function is not bounded along feasible paths. We consider a strategy of proof which allows to deal with many unbounded recursive models exploiting bounds to the rates of growth rather than to the levels.

MSC:

91B62 Economic growth models
90C39 Dynamic programming
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