Robust Incentive Contracts
We look at a principal-agent model in which the agent has to perform an action, the difficulty of which is better known ex interim than ex ante. We compare two contracting regimes; one with commitment to an ex ante negotiated contract, and one with an ex interim negotiated contract. The ex ante cont...
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| Format: | Working Paper |
| Language: | en_US |
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2004
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| Online Access: | http://hdl.handle.net/1721.1/4052 |