| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP15251 |
| DP15251 Participation Constraints in Discontinuous Adverse Selection Models | |
| David Martimort; Lars Stole | |
| 发表日期 | 2020-09-04 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | We present a set of necessary and sufficient conditions for a class of optimal control problems with pure state constraints for which the objective function is linear in the state variable but the objective function is only required to be upper semi-continuous in the control variable. We apply those conditions to a number of economic environments in contract theory where discontinuities in objectives prevail. Examples of applications include nonlinear pricing of digital goods, nonlinear pricing under competitive threat, and common agency models of regulation. |
| 主题 | Industrial Organization |
| 关键词 | Optimal control Non-smooth optimization Convex analysis Type-dependent participation constraints Principal-agent models |
| URL | https://cepr.org/publications/dp15251 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/544226 |
| 推荐引用方式 GB/T 7714 | David Martimort,Lars Stole. DP15251 Participation Constraints in Discontinuous Adverse Selection Models. 2020. |
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