The Multiperiod Principal-Agent Problem.
In repeated principal-agent models, long-term contracts can improve on short-term contracts only if they commit either the principal or agent to a payoff in some future circumstances lower than could be obtained from a short-term contract negotiated if that circumstance occurs. The authors show that...
| Váldodahkkit: | , |
|---|---|
| Materiálatiipa: | Journal article |
| Giella: | English |
| Almmustuhtton: |
1988
|