Strategic contracting in the cultural industry: A Bayesian game theory and Shannon information approach
In the cultural industry, firms face significant challenges when contracting with artists due to the inherently unpredictable quality of experience goods. This study investigates how firms can leverage indices, as introduced by Spence, to make more informed contracting decisions under such uncertain...
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| Format: | Article |
| Language: | English |
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Elsevier
2024-01-01
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| Series: | Social Sciences and Humanities Open |
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| Online Access: | http://www.sciencedirect.com/science/article/pii/S2590291124003784 |