Mathematical Economics

In our final TA session we exerted effort into understanding how solutions to Bellman equations relate to solutions of a standard class of Stationary Dynamic Programming Problems. For this purpose, we showed two lemmas related to dynamic programming and used them along with what we have seen in class about bellman equations in continuous and bounded functional space. We saw under what conditions the solution in question exists and is unique. We also solved an example dynamic programming problem. You can find notes on the subject here and in section E4 (pp.233-248) of Ok's textbook (see syllabus).

Finally, we brushed through the matterial covered during the course and cleared things out.