Models of adaptation in dynamical contracts under stochastic uncertainty
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Abstract
In this paper, we establish new sufficient conditions for the optimality of lump-sum and compensatory incentive schemes (contracts) under stochastic uncertainty. In addition, we suggest and analyze dynamical models of principal’s and agents’ adaptation to changes in statistical characteristics of an external environment.
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Belov, M., & Novikov, D. (2018). Models of adaptation in dynamical contracts under stochastic uncertainty. Advances in Systems Science and Applications, 18(1), 110-131. https://doi.org/10.25728/assa.2018.18.1.540
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