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Browsing Working Papers by Subject "Recursive methods"
Now showing items 1-3 of 3
Title:Recursive Contracts
Author(s):MARCET, Albert; MARIMON, RamonDate:2011-01-01Type of Publication:Working PaperSeries/Report no.:EUI MWPAbstract: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 ...
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 ...
Title:Inequality Constraints in Recursive Economies
Author(s):RENDAHL, PontusDate:2006Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:Dynamic models with inequality constraints pose a challenging prob-
lem for two major reasons: Dynamic Programming techniques often necessitate a
non established differentiability of the value function, while Euler ...