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Fixed point for local contractions: Applications to recursive utility

Martins-da-Rocha, Victor-Filipe; Vailakis, Yiannis (2013), Fixed point for local contractions: Applications to recursive utility, International Journal of Economic Theory, 9, 1, p. 23-33. http://dx.doi.org/10.1111/j.1742-7363.2013.12001.x

Type
Article accepté pour publication ou publié
Date
2013
Journal name
International Journal of Economic Theory
Volume
9
Number
1
Publisher
Pergamon
Pages
23-33
Publication identifier
Metadata
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Author(s)
Martins-da-Rocha, Victor-Filipe cc

Vailakis, Yiannis
Abstract (EN)
The paper shows how fixed-point results for local contractions apply to the study of the existence and uniqueness of recursive utility functions defined on subsets of inline image and being continuous for a specific topology. Two particular applications are presented that give rise to local contractions associated with an uncountable family of semi-distances.
Subjects / Keywords
Koopmans operator; local contraction; recursive utility