A Theory of Rule Development
This article develops a model with endogenously coarse rules. A principal hires an agent to take an action. The principal knows the optimal state-contingent action, but cannot communicate it perfectly due to communication constraints. The principal can use previously realized states as examples to d...
| Main Authors: | , |
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| Other Authors: | |
| Format: | Article |
| Language: | en_US |
| Published: |
Oxford University Press
2015
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| Online Access: | http://hdl.handle.net/1721.1/96770 https://orcid.org/0000-0003-3164-0855 |