Optimal growth models with bounded or unbounded returns: A unifying approach (Q697975): Difference between revisions

The authors propose a unifying approach to the study of the optimal growth models with bounded or unbounded returns. They prove the existence of optimal solutions and show, without using the contraction method, that the value function is the unique solution of the Bellman equation for a particular class of functions. The value function can be obtained by the usual algorithm defined by the operator provided by the Bellman equation.