Dynamic programming for non-additive stochastic objectives
Article Abstract:
The existence of an optimum and dynamic programming techniques was derived from abstract assumptions based on primitive utility function U and its W and M primitive aggregators. A non-positive-valued utility function U that is derived from a W dynamic aggregator and an M stochastic aggregator was constructed. The resulting examples exhibit mean growth without the distribution of unbounded support due to the few growth restrictions of non-positive objectives.
Publication Name: The Journal of Mathematical Economics
Subject: Mathematics
ISSN: 0304-4068
Year: 1996
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A strategic market game with secured lending
Article Abstract:
Using one durable commodity, borrowing/lending through a money market or central bank, and a continuum of agents, stationary mark or equilibria for strategic, competitive games in the context of a market economy are studied to establish general theorems while opening up other areas for further inquiry. The Markov chains' invariant measures are studied in detail together with each agents' dynamic optimization problems.
Publication Name: The Journal of Mathematical Economics
Subject: Mathematics
ISSN: 0304-4068
Year: 1997
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An abstract topological approach to dynamic programming
Article Abstract:
The traditional approach to the mathematical theory of dynamic programming incorporates an abstract contraction property known as Lipschitz condition. Biconvergence is a suggested alternative approach that embodies an abstract topological condition on both the utility function and the intertemporal production correspondence. Biconvergence is easier to test, and results are less difficult to interpret.
Publication Name: The Journal of Mathematical Economics
Subject: Mathematics
ISSN: 0304-4068
Year: 1992
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