期刊
REVIEW OF ECONOMIC DYNAMICS
卷 15, 期 4, 页码 501-525出版社
ACADEMIC PRESS INC ELSEVIER SCIENCE
DOI: 10.1016/j.red.2012.07.002
关键词
Dynamic contracts; Duality; Dynamic programming
类别
Many dynamic incentive problems have a primal recursive formulation in which utility promises serve as state variables. We associate dual recursive formulations with these problems. We make transparent the connections between recursive primal and dual approaches, relate value iteration under each and give conditions for such value iteration to be convergent to the true value function. (C) 2012 Elsevier Inc. All rights reserved.
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