Dynamic contracting: An irrelevance theorem

Dynamic contracting: An irrelevance theorem

This paper generalizes a conceptual insight in dynamic contracting with quasilinear payoffs: the principal does not need to pay any information rents for extracting the agent's “new” private information obtained after signing the contract. This is shown in a general model in which the agent...

Bibliografske podrobnosti
Main Authors:	Eső, P, Szentes, B
Format:	Journal article
Izdano:	Econometric Society 2017

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