Math-S401: Lecture XII - Stochastic dynamic programming

00:00 - Introduction 00:50 - Transition kernel 05:33 - Expectations 08:56 - Choosing a policy function 16:44 - The stochastic infinte horizon optimization problem 19:46 - The stochastic Bellman equation and operator 24:24 - Regularity conditions 30:21 - The Bellman operator is a fixed point 41:58 - Break 42:22 - Existence of the objective function 54:49 - The fixed point is an upper bound 01:07:03 - The optimal policy function