On the Dynamic Programming Approach to Incentive Constraint Problems

Fausto Gozzi, Roberto Monte () and M. Elisabetta Tessitore ()
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Roberto Monte: Macroarea di Ingegneria, Università di Roma “Tor Vergata”
M. Elisabetta Tessitore: Macroarea di Economia, Università di Roma “Tor Vergata”

A chapter in Control Systems and Mathematical Methods in Economics, 2018, pp 81-96 from Springer

Abstract: Abstract In this paper, we study a class of infinite horizon optimal control problems with incentive constraints in the discrete time case. More specifically, we establish sufficient conditions under which the value function satisfies the Dynamic Programming Principle.

Keywords: Incentive Constraints; Infinite Horizon Optimal Control Problem; Dynamic Programming Principle (DPP); Discrete-time Case; Barucci (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:spr:lnechp:978-3-319-75169-6_5

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DOI: 10.1007/978-3-319-75169-6_5

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