In this article, a dynamic Principal–Agent model with discrete actions is analysed from a Multi-Objective optimization framework. As a result, a concave Pareto Frontier is numerically approximated. The concavity of the Pareto Frontier is a consequence of the information asymmetry between the...

We study the problem of an investor who buys an equity stake in an entrepreneurial venture, under the assumption that the former cannot monitor the latter's operations. The dynamics implied by the optimal incentive scheme is rich and quite different from that induced by other models of repeated...

This study addresses the dynamic interaction between income growth, patterns of demographic variables, and characteristics of the labor market. We attempt to provide an endogenous explanation for the origin and nature of long-run sustained oscillations in the population and in economic...