Existence and continuity of the optimal contract in adverse selection models with constraints

We consider a general adverse selection model as an optimal control problem with mixed constraints. We prove that under broad conditions the optimal contract exists and is continuous.

MoreLess

Year of publication:	2014
Authors:	Semenov, Aggey
Institutions:	Département d'Économie / Department of Economics, Université d'Ottawa / University of Ottawa
Subject:	Mixed constraints \| optimal control \| adverse selection

More details

Extent:	application/pdf
Series:	Working Papers.
Type of publication:	Book / Working Paper
Notes:	Number E1402E 9 pages
Classification:	C61 - Optimization Techniques; Programming Models; Dynamic Analysis ; C62 - Existence and Stability Conditions of Equilibrium ; D82 - Asymmetric and Private Information ; D86 - Economics of Contract: Theory
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10011206181