Econometrica Vol. 78 No. 3 2010
Existence and Uniqueness of a Fixed Point for Local Contractions
open access
Abstract
This paper proves the existence and uniqueness of a fixed-point for local contractions without assuming the family of contraction coefficients to be uniformly bounded away from 1. More importantly it shows how this fixed-point result can apply to study existence and uniqueness of solutions to some recursive equations that arise in economic dynamics.
- DOI
- 10.3982/ecta7920
- Volume
- 78
- Issue
- 3
- Pages
- 1127-1141
- Language
- en
- Sources
- bibtex:phds-export.bib openalex crossref