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On The Dynamic Programming Approach To Incentive Constraint Problems

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 suffcient conditions under which the value function associated to such problems satisfies the Dynamic Programming Principle.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 suffcient conditions under which the value function associated to such problems satisfies the Dynamic Programming Principle.Non-Refereed Working Papers / of national relevance onl

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