Autori:
Marimon, Ramon ![](http://www.bncf.firenze.sbn.it/img/logo-bncf.jpg)
,
Marcet, Albert ![](http://www.bncf.firenze.sbn.it/img/logo-bncf.jpg)
Titolo:
Recursive ContractsPeriodico:
European University Institute of Badia Fiesolana (Fi). Department of Economics - Working papersAnno:
2011 - Fascicolo:
15 - Pagina iniziale:
1 - Pagina finale:
47We 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 studying a recursive Lagrangian. Under standard general conditions, there is a recursive saddle-point (infsup) functional equation (analogous to a Bellman equation) that characterizes the recursive solution to the planner's problem and forward-looking constraints. Our approach has been applied to a large class of dynamic contractual problems, such as contracts with limited enforcement, optimal policy design with implementability constraints, and dynamic political economy models.
Premi sulle icone
![](http://www.bncf.firenze.sbn.it/img/logo-bncf.jpg)
a fianco dei nomi per visualizzare i libri scritti dall'autore
X
Opere monografiche dal catalogo BNCF
Esportazione dati in Refworks (solo per utenti abilitati)
Record salvabile in Zotero