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On the solvability of a functional equation
Abstract:This article studies properties of solutions of a functional equation arising in dynamic programming of multistage decision processes. A sufficient condition for the existence, uniqueness and iterative approximation of solutions of the functional equation is established. A few other behaviours of solutions for certain functional equations which are particular cases of the functional equation are discussed. The results presented in this article extend, improve and unify some known results in literature.
Keywords:functional equation  non-expansive mapping  iterative approximation  non-negative solution  dynamic programming
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