Recursive Contracts, Lotteries and Weakly Concave Pareto Sets
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Marcet and Marimon (1994, revised 1998, revised 2011) developed a recursive saddle point method which can be used to solve dynamic contracting problems that include participation, enforcement and incentive constraints. Their method uses a recursive multiplier to capture implicit prior promises to
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美国国家经济研究局创建时间:
2011-05-01



