Existence and uniqueness of solutions for certain functional equations and system of functional equations arising in dynamic programming

Abstract

This paper deals with the existence, uniqueness and iterative approximations of solutions for the functional equations and system of functional equations arising in dynamic programming of multistage decision making processes in Banach spaces and complete metric space, respectively. The results presented in this paper unify and generalize many known results in the literature. Some examples which dwell upon the importance of our results are also illustrated.

Keywords

• dynamic programming
• functional equations
• fixed point
• primary 49l20
• 49l99
• 90c39
• secondary 47a30
• 47b47.