Near-optimization is as sensible and important as optimization for both theory and applications. This paper concerns dynamic near-optimization, or near-optimal controls, for systems governed by ...

A condition is derived that must be satisfied by a continuous function h: X → X in order to be the optimal policy function of a strictly concave deterministic dynamic programming problem which is ...

Nancy L. Stokey, Edward C. Prescott, Robert E. Lucas Jr. This rigorous but brilliantly lucid book presents a self-contained treatment of modern economic dynamics. Stokey, Lucas, and Prescott develop ...