G2TT
来源类型Discussion paper
规范类型论文
来源IDDP15251
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
URLhttps://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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