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Browsing by Subject "E27"
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Title:Recursive Contracts
Author(s):MARCET, Albert; MARIMON, RamonDate:2011Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:We obtain a recursive formulation for a general class of contracting problems involving incentive constraints. These constraints make the corresponding maximization sup problems non-recursive. Our approach consists of ...