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Persistent link: https://www.econbiz.de/10012221873
We consider discrete time dynamic principal--agent problems with continuous choice sets and potentially multiple agents. We prove the existence of a unique solution for the principal's value function only assuming continuity of the functions and compactness of the choice sets. We do this by a...
Persistent link: https://www.econbiz.de/10011516045
In this paper we present some new results for the dynamic agent model by Iossa and Rey (2014, "Building Reputation for Contract Renewal: Implications for Performance Dynamics and Contract Duration,'' Journal of the European Economic Association, 12, 549−574) while also correcting some errors...
Persistent link: https://www.econbiz.de/10011518748
Persistent link: https://www.econbiz.de/10012178597