Artikel
Agency problems with non-smooth decision profiles: The case of monopoly under product quality
A method for dealing with monotonicity constraints in optimal control problems is used to generalize some results in the context of monopoly theory, also extending the generalization to a large family of principal-agent programs. Our main conclusion is that many results on diverse economic topics, achieved under assumptions of continuity and piecewise differentiability in connection with the endogenous variables of the problem, still remain valid after replacing such assumptions by two minimal requirements.
- Language
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Englisch
- Bibliographic citation
-
Journal: SERIEs - Journal of the Spanish Economic Association ; ISSN: 1869-4195 ; Volume: 2 ; Year: 2011 ; Issue: 1 ; Pages: 121-137 ; Heidelberg: Springer
- Classification
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Wirtschaft
- Subject
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monopoly
principal-agent problems
monotonicity constraints
non-smooth functions
well-behaved solutions
intervals of singularity
Produktqualität
Monopol
Prinzipal-Agent-Theorie
- Event
-
Geistige Schöpfung
- (who)
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Ruiz del Portal, X.
- Event
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Veröffentlichung
- (who)
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Springer
- (where)
-
Heidelberg
- (when)
-
2011
- DOI
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doi:10.1007/s13209-009-0003-x
- Handle
- Last update
-
10.03.2025, 11:42 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Artikel
Associated
- Ruiz del Portal, X.
- Springer
Time of origin
- 2011
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