Dynamic contracting under permanent and transitory private information
نویسندگان
چکیده
منابع مشابه
Dynamic contracting under permanent and transitory private information
To understand how firms create and maintain long term relationships with consumers, or how procurement relations evolve over time, it is useful to study a dynamic variant of the classical two-type-buyer contract in mechanism design. It is less trivial and more interesting if the utility determinant (or utility type) is not fixed or completely random, and fair assumptions are that it is either s...
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We develop a dynamic principal–agent model to show how imperfect public information and asymmetric beliefs, asymmetric risk attitudes, complementary actions by both parties, and inter-temporal adverse selection arising from the agent’s unobservable actions interact to affect optimal dynamic contracts. Our continuous-time formulation of the model, which features both “hidden actions” and “hidden...
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ژورنال
عنوان ژورنال: International Journal of Game Theory
سال: 2016
ISSN: 0020-7276,1432-1270
DOI: 10.1007/s00182-016-0552-8