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Research of a continuous time model of the decentralized decision-making

A continuous time model is proposed in this paper, dealing with the decentralized decision-making of multi-products promotion, under the condition of moral hazard. The main result is that when the revenue function and the movement law satisfy certain conditions, the optimal efforts level of the division in continuous time is the same with that in the static case, even though both are distorted compared with the optimal efforts level under complete information.