On dynamic programming with unbounded returns

Duran, Jorge
(2000) Economic Theory — Vol. 15, n° 2, p. 339-352 (2000)

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  • Duran, JorgeUCLouvain
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Abstract
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.
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Duran, J. (2000). On dynamic programming with unbounded returns. Economic Theory, 15(2), 339-352. https://doi.org/10.1007/s001990050016 (Original work published 2000)