Contract Theory in Continuous-Time Models
- 268 stránok
- 10 hodin čítania
This monograph surveys recent advancements in continuous-time Principal-Agent models and contract theory, focusing on solving stochastic optimization problems for optimal contracts. It employs the Stochastic Maximum Principle and characterizes optimal contracts through Forward-Backward Stochastic Differential Equations, offering explicit solutions in special cases for economic insights.
