Abstract The aim of executive compensation plans is to incentivize executives maximize long-term firm value. Past research shows that executives’ pay determined by short-term stock performance a substantial degree. This paper tests for distributional differences in the time horizon performance–pay relation, controlling executive-firm fixed effects quantile regression framework. I identify and i...

Human experience of temporal durations exhibits a multi-regional structure, with more or less distinct boundaries, or horizons, on the scale of physical duration. The inner horizons are imposed by perceptual thresholds for simultaneity (approximately equal to 3 ms) and temporal order (approximatly equal to 30 ms), and are determined by the dynamical properties of the neural substrate integratin...

We present one of the first algorithms on model based reinforcement learning and trajectory optimization with free final time horizon. Grounded on the optimal control theory and Dynamic Programming, we derive a set of backward differential equations that propagate the value function and provide the optimal control policy and the optimal time horizon. The resulting policy generalizes previous re...