Recursive Contracts

DOI10.3982/ECTA9902zbMath1431.91202OpenAlexW4248918866MaRDI QIDQ5214112

Ramon Marimon, Albert Marcet

Publication date: 7 February 2020

Published in: Econometrica (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.3982/ecta9902

zbMATH Keywords

Lagrangian multipliersdynamic optimizationsaddle-pointstime inconsistencylimited commitmentBellman equationsrecursive methodsRamsey equilibriumlimited enforcement

Mathematics Subject Classification ID

Economic dynamics (91B55) Contract theory (moral hazard, adverse selection) (91B41)

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