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Optimal control 1 agent models 1 convex analysis 1 nonsmooth optimization 1 principal&#x2013 1 type-dependent participation constraints 1
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Martimort, David 1 Stole, Lars A. 1
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Participation constraints in discontinuous adverse selection models
Martimort, David; Stole, Lars A. - In: Theoretical Economics 17 (2022) 3, pp. 1145-1181
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...
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