Properties of Solutions for a Functional Equation Arising in Dynamic Programming

Properties of Solutions for a Functional Equation Arising in Dynamic Programming

0.00 Avg rating0 Votes
Article ID: iaor20132845
Volume: 157
Issue: 3
Start Page Number: 696
End Page Number: 715
Publication Date: Jun 2013
Journal: Journal of Optimization Theory and Applications
Authors: , , ,
Keywords: programming: dynamic, decision
Abstract:

This paper is concerned with a new functional equation arising in dynamic programming of multistage decision processes. Utilizing the Banach fixed point theorem and iterative algorithms, we prove the existence, uniqueness, and iterative approximations of solutions for the functional equation in Banach spaces and a complete metric space, respectively. Some error estimates between the iterative sequences generated by iterative algorithms and the solutions are discussed. Five examples are constructed to illustrate the results presented in this paper.

Reviews

Required fields are marked *. Your email address will not be published.