—the theory of recursive contracts. Recursive formulations allow us to reduce often complex models to a sequence of essentially … of the basic theory: the Revelation Principle, formulating and simplifying the incentive constraints, using promised … advanced topics: duality theory and Lagrange multiplier techniques, models with lack of commitment, and martingale methods in …

from using order inflation when the suppliers' production costs and the cost of disposing of unwanted inputs are large …

monitoring sessions that depend on past arrival times. We formulate the problem as a stochastic optimal control model and solve …