Dynamic relational contracts under complete information
نویسندگان
چکیده
منابع مشابه
Information and Relational Contracts
We investigate the use of information in repeated principal-agent game and report three results. First, consistent with Kandori (1992), garbling signals within each period hurts the e¢ ciency of the game. Second, contrary to Abreu, Milgrom, and Pearce (1991), bundling signals across periods and then fully revealing them never increases the e¢ ciency of the game. Third, and most importantly, we ...
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ژورنال
عنوان ژورنال: Journal of Economic Theory
سال: 2018
ISSN: 0022-0531
DOI: 10.1016/j.jet.2018.02.004