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...
| Κύριοι συγγραφείς: | , |
|---|---|
| Μορφή: | Journal article |
| Έκδοση: |
Econometric Society
2017
|