Existence and continuity of the optimal contract in adverse selection models with constraints

Aggey Semenov

No E1402E, Working Papers from University of Ottawa, Department of Economics

Abstract: We consider a general adverse selection model as an optimal control problem with mixed constraints. We prove that under broad conditions the optimal contract exists and is continuous.

Keywords: Mixed constraints; optimal control; adverse selection (search for similar items in EconPapers)
JEL-codes: C61 C62 D82 D86 (search for similar items in EconPapers)
Pages: 9 pages
Date: 2014
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