Browsing MWP Working Papers by Subject "Lagrangian multipliers"

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Browsing MWP Working Papers by Subject "Lagrangian multipliers"

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    Title: Recursive Contracts  Author(s): MARCET, Albert; MARIMON, Ramon Date: 2011-01-01 Type of Publication: Working Paper Series/Report no.: EUI MWP Abstract: 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 ...