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A Recursive Formulation for Repeated Agency with History Dependence

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Cited by:

  1. Cole, Harold L. & Kocherlakota, Narayana, 2001. "Dynamic Games with Hidden Actions and Hidden States," Journal of Economic Theory, Elsevier, vol. 98(1), pages 114-126, May.
  2. Matthias Messner & Nicola Pavoni & Christopher Sleet, 2012. "Recursive Methods for Incentive Problems," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 15(4), pages 501-525, October.
  3. da Costa, Carlos E. & Severo, Tiago, 2008. "Education, preferences for leisure and the optimal income tax schedule," Journal of Public Economics, Elsevier, vol. 92(1-2), pages 113-138, February.
  4. Radim Bohacek, 2000. "Capital Accumulation in an Economy with Heterogeneous Agents and Moral Hazard," CERGE-EI Working Papers wp165, The Center for Economic Research and Graduate Education - Economics Institute, Prague.
  5. Messner Matthias & Pavoni Nicola & Sleet Christopher, "undated". "Recursive Methods for Dynamic Incentive Problems," GSIA Working Papers 2012-E13, Carnegie Mellon University, Tepper School of Business.
  6. Toshihiko Mukoyama & Ayşegül Şahin, 2005. "Repeated moral hazard with persistence," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 25(4), pages 831-854, June.
  7. Doepke, Matthias & Townsend, Robert M., 2006. "Dynamic mechanism design with hidden income and hidden actions," Journal of Economic Theory, Elsevier, vol. 126(1), pages 235-285, January.
  8. Hugo Hopenhayn & Arantxa Jarque, 2006. "Moral Hazard and Persistence," 2006 Meeting Papers 670, Society for Economic Dynamics.
  9. Cheng Wang, 1995. "Dynamic Insurance with Private Information and Balanced Budgets," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 62(4), pages 577-595.
  10. Hugo Hopenhayn & Arantxa Jarque, 2010. "Unobservable Persistent Productivity and Long Term Contracts," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 13(2), pages 333-349, April.
  11. Marcelo Veracierto, 2014. "Adverse Selection, Risk Sharing and Business Cycles," Working Paper Series WP-2014-10, Federal Reserve Bank of Chicago.
  12. University of Pennsylvania & Guido Menzio, 2007. "Dynamic Pricing in a Frictional Product Market," 2007 Meeting Papers 549, Society for Economic Dynamics.
  13. Marina Halac & Pierre Yared, 2014. "Fiscal Rules and Discretion Under Persistent Shocks," Econometrica, Econometric Society, vol. 82(5), pages 1557-1614, September.
  14. Arantxa Jarque, 2010. "Hidden effort, learning by doing, and wage dynamics," Economic Quarterly, Federal Reserve Bank of Richmond, vol. 96(4Q), pages 339-372.
  15. Narayana R. Kocherlakota, 2005. "Monetary and Fiscal Policy: An Overview," Levine's Bibliography 122247000000000909, UCLA Department of Economics.
  16. Koehne, Sebastian & Kuhn, Moritz, 2015. "Optimal taxation in a habit formation economy," Journal of Public Economics, Elsevier, vol. 122(C), pages 31-39.
  17. Moser, Christian & Olea de Souza e Silva, Pedro, 2019. "Optimal Paternalistic Savings Policies," MPRA Paper 95383, University Library of Munich, Germany.
  18. Noah Williams, 2011. "Persistent Private Information," Econometrica, Econometric Society, vol. 79(4), pages 1233-1275, July.
  19. Mele, Antonio, 2014. "Repeated moral hazard and recursive Lagrangeans," Journal of Economic Dynamics and Control, Elsevier, vol. 42(C), pages 69-85.
  20. Mark Huggett & Juan Carlos Parra, 2010. "How Well Does the U.S. Social Insurance System Provide Social Insurance?," Journal of Political Economy, University of Chicago Press, vol. 118(1), pages 76-112, February.
  21. Sebastian Di Tella & Yuliy Sannikov, 2021. "Optimal Asset Management Contracts With Hidden Savings," Econometrica, Econometric Society, vol. 89(3), pages 1099-1139, May.
  22. Alex Bloedel & R. Vijay Krishna & Oksana Leukhina, 2018. "Insurance and Inequality with Persistent Private Information," Working Papers 2018-020, Federal Reserve Bank of St. Louis, revised 12 Dec 2021.
  23. , & ,, 2014. "Dynamic contracts when agent's quality is unknown," Theoretical Economics, Econometric Society, vol. 9(3), September.
  24. Yingni Guo & Johannes Horner, 2015. "Dynamic Mechanisms without Money," Cowles Foundation Discussion Papers 1985, Cowles Foundation for Research in Economics, Yale University.
  25. Borys Grochulski, 2007. "Optimal Personal Bankruptcy Design: A Mirrlees Approach," 2007 Meeting Papers 1008, Society for Economic Dynamics.
  26. Carlos da Costa & Vitor Farinha Luz, 2018. "The Private Memory of Aggregate Uncertainty," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 27, pages 169-183, January.
  27. Slavík, Ctirad & Yazici, Hakki, 2014. "Machines, buildings, and optimal dynamic taxes," Journal of Monetary Economics, Elsevier, vol. 66(C), pages 47-61.
  28. Enrique G. Mendoza & Vincenzo Quadrini & Jose-Victor Rios-Rull, 2007. "Financial Integration, Financial Deepness and Global Imbalances," NBER Working Papers 12909, National Bureau of Economic Research, Inc.
  29. Susan Athey & Kyle Bagwell, 2008. "Collusion With Persistent Cost Shocks," Econometrica, Econometric Society, vol. 76(3), pages 493-540, May.
  30. Mikhail Golosov & Luigi Iovino, 2021. "Social Insurance, Information Revelation, and Lack of Commitment," Journal of Political Economy, University of Chicago Press, vol. 129(9), pages 2629-2665.
  31. Ethan Ligon & Laura Schechter, 2020. "Structural Experimentation to Distinguish between Models of Risk Sharing with Frictions in Rural Paraguay," Economic Development and Cultural Change, University of Chicago Press, vol. 69(1), pages 1-50.
  32. Bergemann, Dirk & Pavan, Alessandro, 2015. "Introduction to Symposium on Dynamic Contracts and Mechanism Design," Journal of Economic Theory, Elsevier, vol. 159(PB), pages 679-701.
  33. Nakamura, Emi & Steinsson, Jón, 2011. "Price setting in forward-looking customer markets," Journal of Monetary Economics, Elsevier, vol. 58(3), pages 220-233.
  34. Zhang, Yuzhe, 2009. "Dynamic contracting with persistent shocks," Journal of Economic Theory, Elsevier, vol. 144(2), pages 635-675, March.
  35. Philipp Renner & Karl Schmedders, 2020. "Discrete‐time dynamic principal–agent models: Contraction mapping theorem and computational treatment," Quantitative Economics, Econometric Society, vol. 11(4), pages 1215-1251, November.
  36. Marcus Berliant & Shota Fujishima, 2017. "Optimal income taxation with a stationarity constraint in a dynamic stochastic economy," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 19(3), pages 739-747, June.
  37. Jarque, Arantxa, 2010. "Repeated moral hazard with effort persistence," Journal of Economic Theory, Elsevier, vol. 145(6), pages 2412-2423, November.
  38. Guido Menzio, 2007. "A Search Theory of Rigid Prices," PIER Working Paper Archive 07-031, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
  39. Jacek Rothert, 2015. "Monitoring, moral hazard, and turnover," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 58(2), pages 355-374, February.
  40. Grochulski, Borys & Piskorski, Tomasz, 2010. "Risky human capital and deferred capital income taxation," Journal of Economic Theory, Elsevier, vol. 145(3), pages 908-943, May.
  41. Harold L. Cole & Jeremy Greenwood & Juan M. Sanchez, 2016. "Why Doesn't Technology Flow From Rich to Poor Countries?," Econometrica, Econometric Society, vol. 84(4), pages 1477-1521, July.
  42. Guo, Yingni & Hörner, Johannes, 2020. "Dynamic Allocation without Money," TSE Working Papers 20-1133, Toulouse School of Economics (TSE).
  43. Stefania Albanesi & Christopher Sleet, 2006. "Dynamic Optimal Taxation with Private Information," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 73(1), pages 1-30.
  44. Yingni Guo & Johannes Hörner, 2021. "Dynamic Allocation without Money," Working Papers hal-03187506, HAL.
  45. R. Vijay Krishna & Shiming Fu, 2016. "Dynamic Financial Contracting with Persistent Private Information," 2016 Meeting Papers 89, Society for Economic Dynamics.
  46. Maxim Troshkin & Aleh Tsyvinski & Mikhail Golosov, 2010. "Optimal Dynamic Taxes," 2010 Meeting Papers 320, Society for Economic Dynamics.
  47. Papadimitriou, Christos & Pierrakos, George & Psomas, Alexandros & Rubinstein, Aviad, 2022. "On the complexity of dynamic mechanism design," Games and Economic Behavior, Elsevier, vol. 134(C), pages 399-427.
  48. Karaivanov, Alexander K. & Martin, Fernando M., 2018. "Markov-perfect risk sharing, moral hazard and limited commitment," Journal of Economic Dynamics and Control, Elsevier, vol. 94(C), pages 1-23.
  49. B. Ravikumar & Raymond G. Riezman & Yuzhe Zhang, 2022. "Private Information and Optimal Infant Industry Protection," CESifo Working Paper Series 9772, CESifo.
  50. Itza Curiel & Sonia Di Giannatale & Juan Herrera & Katya Rodríguez, 2012. "Pareto Frontier of a Dynamic Principal–Agent Model with Discrete Actions: An Evolutionary Multi-Objective Approach," Computational Economics, Springer;Society for Computational Economics, vol. 40(4), pages 415-443, December.
  51. Golosov, M. & Tsyvinski, A. & Werquin, N., 2016. "Recursive Contracts and Endogenously Incomplete Markets," Handbook of Macroeconomics, in: J. B. Taylor & Harald Uhlig (ed.), Handbook of Macroeconomics, edition 1, volume 2, chapter 0, pages 725-841, Elsevier.
  52. Vitor F. Luz & Carlos E. da Costa, 2010. "The Private Memory of Aggregate Shocks," 2010 Meeting Papers 368, Society for Economic Dynamics.
  53. Hagedorn, Marcus & Kaul, Ashok & Mennel, Tim, 2010. "An adverse selection model of optimal unemployment insurance," Journal of Economic Dynamics and Control, Elsevier, vol. 34(3), pages 490-502, March.
  54. Enrique G. Mendoza & Vincenzo Quadrini & José-Víctor Ríos-Rull, 2009. "Financial Integration, Financial Development, and Global Imbalances," Journal of Political Economy, University of Chicago Press, vol. 117(3), pages 371-416, June.
  55. Alexander K. Karaivanov & Fernando M. Martin, 2016. "Market Power and Asset Contractibility in Dynamic Insurance Contracts," Review, Federal Reserve Bank of St. Louis, vol. 98(2).
  56. Gian Luca Clementi & Thomas Cooley & Sonia Di Giannatale, 2010. "A Theory of Firm Decline," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 13(4), pages 861-885, October.
  57. Winfried Koeniger & Julien Prat, 2018. "Human Capital and Optimal Redistribution," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 27, pages 1-26, January.
  58. Marek Kapicka, 2006. "Optimal Income Taxation with Human Capital Accumulation and Limited Record Keeping," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 9(4), pages 612-639, October.
  59. Christopher Sleet, 2004. "Optimal Taxation with Private Government Information," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 71(4), pages 1217-1239.
  60. Peter M. Demarzo & Yuliy Sannikov, 2017. "Learning, Termination, and Payout Policy in Dynamic Incentive Contracts," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 84(1), pages 182-236.
  61. Philipp Renner & Karl Schmedders, 2017. "Dynamic Principal–Agent Models," Working Papers 203620456, Lancaster University Management School, Economics Department.
  62. Tobias Broer & Marek Kapicka & Paul Klein, 2017. "Consumption Risk Sharing with Private Information and Limited Enforcement," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 23, pages 170-190, January.
  63. Forand, Jean Guillaume, 2015. "Useless Prevention vs. Costly Remediation," Quarterly Journal of Political Science, now publishers, vol. 10(2), pages 187-220, June.
  64. Krasikov, Ilia & Lamba, Rohit, 2021. "A theory of dynamic contracting with financial constraints," Journal of Economic Theory, Elsevier, vol. 193(C).
  65. Abraham Arpad & Nicola Pavoni, 2004. "Efficient Allocations, with Moral Hazard and Hidden Borrowing and Lending," Levine's Bibliography 122247000000000138, UCLA Department of Economics.
  66. Alexander Karaivanov & Fernando Martin, 2015. "Dynamic Optimal Insurance and Lack of Commitment," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 18(2), pages 287-305, April.
  67. Achim, Peter & Knoepfle, Jan, 0. "Relational enforcement," Theoretical Economics, Econometric Society.
  68. Vitor F. Luz & Carlos E. da Costa, 2011. "Separability and Memory: Micro Causes, Macro Consequences," 2011 Meeting Papers 916, Society for Economic Dynamics.
  69. Alexander Karaivanov & Robert M. Townsend, 2014. "Dynamic Financial Constraints: Distinguishing Mechanism Design From Exogenously Incomplete Regimes," Econometrica, Econometric Society, vol. 82(3), pages 887-959, May.
  70. Long Gao & Birendra K. Mishra, 2019. "The Role of Market Evolution in Channel Contracting," Management Science, INFORMS, vol. 67(5), pages 2432-2441, May.
  71. Carlos E. da Costa, 2009. "Yet Another Reason to Tax Goods," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 12(2), pages 363-376, April.
  72. Gaetano Bloise & Paolo Siconolfi, 2022. "A Negishi Approach to Recursive Contracts," Econometrica, Econometric Society, vol. 90(6), pages 2821-2855, November.
  73. Brett Green & Curtis R. Taylor, 2016. "Breakthroughs, Deadlines, and Self-Reported Progress: Contracting for Multistage Projects," American Economic Review, American Economic Association, vol. 106(12), pages 3660-3699, December.
  74. Ho Christine, 2019. "Optimal Disability Insurance with Informal Child Care," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 19(2), pages 1-42, April.
  75. Narayana Kocherlakota, 2004. "Figuring out the Impact of Hidden Savings on Optimal Unemployment Insurance," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 7(3), pages 541-554, July.
  76. Long Gao, 2023. "Optimal Incentives for Salespeople with Learning Potential," Management Science, INFORMS, vol. 69(6), pages 3285-3296, June.
  77. Yared, Pierre, 2010. "A dynamic theory of war and peace," Journal of Economic Theory, Elsevier, vol. 145(5), pages 1921-1950, September.
  78. Been-Lon Chen & Fei-Chi Liang, 2023. "Optimal Taxation in the Life Cycle with Human Capital Investment," IEAS Working Paper : academic research 23-A006, Institute of Economics, Academia Sinica, Taipei, Taiwan.
  79. Lippi, Francesco & Trachter, Nicholas, 2012. "On the optimal supply of liquidity with borrowing constraints," CEPR Discussion Papers 8890, C.E.P.R. Discussion Papers.
  80. Marcelo Veracierto, 2020. "Business Cycle Fluctuations in Mirrlees Economies: The case of i.i.d. shocks​," Working Paper Series WP-2020-04, Federal Reserve Bank of Chicago.
  81. Ligon, Ethan A. & Schechter, Laura, 2011. "The Value of social networks in rural Paraguay," Department of Agricultural & Resource Economics, UC Berkeley, Working Paper Series qt7507w5zw, Department of Agricultural & Resource Economics, UC Berkeley.
  82. Yunmin Chen & YiLi Chien & Michael T. Owyang, 2015. "Individual and Aggregate Constrained Efficient Intertemporal Wedges in Dynamic Mirrleesian Economies," Working Papers 2015-43, Federal Reserve Bank of St. Louis.
  83. Schnedler, Wendelin & Sunde, Uwe, 2002. "The Hold-Down Problem and the Boundaries of the Firm: Lesson from a Hidden Action Model with Endogenous Outside Option," IZA Discussion Papers 464, Institute of Labor Economics (IZA).
  84. Simon Board & Moritz Meyer‐ter‐Vehn, 2013. "Reputation for Quality," Econometrica, Econometric Society, vol. 81(6), pages 2381-2462, November.
  85. Marcus Berliant & Pierre C. Boyer, 2022. "Politics and Income Taxes: Progress and Progressivity," CESifo Working Paper Series 10041, CESifo.
  86. Mark Huggett (Georgetown University) and Juan Carlos Parra (Georgetown University), 2005. "Quantifying the Inefficiency of the US Social Insurance System," Working Papers gueconwpa~05-05-16, Georgetown University, Department of Economics.
  87. Ravikumar, B. & Zhang, Yuzhe, 2010. "Optimal Auditing in a Dynamic Model of Tax Compliance," MPRA Paper 23218, University Library of Munich, Germany.
  88. Veracierto, Marcelo, 2021. "Business cycle fluctuations in Mirrlees economies: The case of i.i.d. shocks," Journal of Economic Theory, Elsevier, vol. 196(C).
  89. Radim Bohacek, 2001. "Capital Accumulation And Moral Hazard In An Economy With Heterogeneous Agents," CeNDEF Workshop Papers, January 2001 1B.2, Universiteit van Amsterdam, Center for Nonlinear Dynamics in Economics and Finance.
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  92. Stefanie Stantcheva, 2017. "Optimal Taxation and Human Capital Policies over the Life Cycle," Journal of Political Economy, University of Chicago Press, vol. 125(6), pages 1931-1990.
  93. Parantap Basu & Sigit Sulistiyo Wibowo, 2015. "An Empirical Investigation of Risk Sharing among Indonesian Households," CEGAP Working Papers 2015_02, Durham University Business School.
  94. Johannes Hörner & Satoru Takahashi & Nicolas Vieille, 2015. "Truthful Equilibria in Dynamic Bayesian Games," Econometrica, Econometric Society, vol. 83(5), pages 1795-1848, September.
  95. Doraszelski, Ulrich & Escobar, Juan F., 2012. "Restricted feedback in long term relationships," Journal of Economic Theory, Elsevier, vol. 147(1), pages 142-161.
  96. Philipp Renner & Simon Scheidegger, 2017. "Machine learning for dynamic incentive problems," Working Papers 203620397, Lancaster University Management School, Economics Department.
  97. Santiago R. Balseiro & Huseyin Gurkan & Peng Sun, 2019. "Multiagent Mechanism Design Without Money," Operations Research, INFORMS, vol. 67(5), pages 1417-1436, September.
  98. Ravikumar, B. & ,, 2012. "Optimal auditing and insurance in a dynamic model of tax compliance," Theoretical Economics, Econometric Society, vol. 7(2), May.
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  100. Been-Lo Chen & Fei-Chi Liang, 2024. "Optimal Taxation in the Life Cycle with Human Capital Investment," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 52, pages 21-45, April.
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  102. Sonia B. Di Giannatale & Itza Curiel & Juan Herrera & Katya Rodriguez, 2010. "Aproximación con algoritmos evolutivos de la frontera de Pareto de un modelo dinámico de agente-principal con acciones discretas," Working papers DTE 476, CIDE, División de Economía.
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  111. Xi Chen & Yu Chen & Xuhu Wan, 2018. "Delegated Project Search," Graz Economics Papers 2018-11, University of Graz, Department of Economics.
  112. Arpad Abraham & Nicola Pavoni, 2008. "Efficient Allocations with Moral Hazard and Hidden Borrowing and Lending: A Recursive Formulation," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 11(4), pages 781-803, October.
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  117. Tobias Broer & Marek Kapicka & Paul Klein, 2017. "Consumption Risk Sharing with Private Information and Limited Enforcement," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 23, pages 170-190, January.
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