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.


91B62 Economic growth models
90C39 Dynamic programming
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