most citedFictitious Play for Mean Field Games with Optimal Stopping: Convergence and Computation

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econ.TH2025

Recursive contracts in non-convex environments

Chengfeng Shen, Felix Kübler, Zhennan Zhou

Many dynamic contracting problems in economics are non-convex, and deterministic optima can be dominated by randomized solutions. We develop a recursive method to compute optimal l…

econ.TH2025

A Lagrangian Approach to Optimal Randomization

Chengfeng Shen, Felix Kübler, Yucheng Yang +1

We develop an efficient method for solving non-convex constrained optimization problems that are pervasive in economics. The optimal solution to these problems often involves rando…