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Title:Recursive Contracts Author(s):MARCET, Albert; MARIMON, Ramon
Date:2011-01-01Type:Working PaperSeries/Number:EUI MWP; 2011/03Abstract: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 ...
Date:2011-01-01Type:Working PaperSeries/Number:EUI MWP; 2011/03Abstract: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 ...