Titlebook: Contract Theory in Continuous-Time Models; Jakša Cvitanić,Jianfeng Zhang Book 2013 Springer-Verlag Berlin Heidelberg 2013 91G80, 93E20.for

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https://doi.org/10.1007/978-3-540-34299-1 output values. The main qualitative conclusions from the case of linear drift dynamics of the previous section still hold true with nonlinear drift dynamics—a linear benchmark contract is optimal, and it implements the first best actions. However, the benchmark is now harder to identify, and it may

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https://doi.org/10.1007/978-3-540-34374-5l hazard. In the model the agent can misreport the firm earnings and transfer money to his own savings account, but there is an optimal contract under which the agent will report truthfully, and will not save, but consume everything he is paid. The model leads to a relatively simple and realistic fi

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Integration und Dimensionierung,lly to BSDEs, and then, we provide the basic theory. We present the important Comparison Theorem for BSDEs. Existence and uniqueness are first shown under Lipschitz and square-integrability conditions. Then, the case of quadratic growth is studied, often encountered in applications. In Markovian mod

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1616-0533 quations. In a number of interesting special cases these can be solved explicitly, enabling derivation of many qualitative economic conclusions..978-3-642-43352-8978-3-642-14200-0Series ISSN 1616-0533 Series E-ISSN 2195-0687

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