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What are the necessary conditions for convergence of the fixed point iteration algorithm?

One condition I have come across is that if $|g'(x)|<1$ for all $x$ in some interval $[a,b]$ where g is continuously differentiable in [a.b] then the iteration $x_{n+1}=g(x_n)$ converges for any initial guess $x_0 \in [a.b]$. Is this just a sufficient condition, or is it necessary and sufficient?

Jamminermit
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A common version is that if $g:[a,b]\to [a,b]$ is contractive, i.e. there exists a constant $0\leq L <1$ such that $|g(x)-g(y)| \leq L|x-y|, \forall x,y \in [a,b]$, then $g$ has one and only fixed point $z \in [a,b]$ and the sequence $x_{n+1}=g(x_n)$ converges to $z$, for any initial approximation $x_0\in[a,b]$.

If $g$ is differentiable, the contractivity can be established if $|g'|<1$.

PierreCarre
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