The Banach fixed point principle viewed as a monotone convergence with respect to the Lorentz cone

Abstract

We augment the dimension of the Euclidean space by one and the Picard iteration of a contraction by a simple iteration on the real line such that the resulting iteration becomes monotone increasing and bounded with respect to the order defined by the Lorentz cone of the augmented space. This provides a different way of showing the convergence of the Picard iteration of a contraction, exhibiting the strong relationship between the Banach fixed point principle and the ordering structure of the Euclidean space ordered by the Lorentz cone.