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The Costs and Benefits of Additional Information in Agency Models with Endogenous Information Structures

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  • Hoppe, Eva I.
  • Schmitz, Patrick W.

Abstract

We study the effect of additional private information in an agency model with an endogenous information structure. If more private information becomes available to the agent, this may hurt the agent, benefit the principal, and affect the total surplus ambiguously.

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Bibliographic Info

Paper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 7331.

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Date of creation: Jun 2009
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Handle: RePEc:cpr:ceprdp:7331

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Related research

Keywords: adverse selection; Hidden information; information gathering;

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References

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  1. Cremer, Jacques & Khalil, Fahad & Rochet, Jean-Charles, 1998. "Contracts and Productive Information Gathering," Games and Economic Behavior, Elsevier, vol. 25(2), pages 174-193, November.
  2. Cremer, Jacques & Khalil, Fahad, 1992. "Gathering Information before Signing a Contract," American Economic Review, American Economic Association, vol. 82(3), pages 566-78, June.
  3. Khalil, F & Rochet, J-C, 1997. "Strategic Information Gathering Before a Contract is Offered," Working Papers 97-15, University of Washington, Department of Economics.
  4. Hoppe, Eva I. & Schmitz, Patrick W., 2009. "The Costs and Benefits of Additional Information in Agency Models with Endogenous Information Structures," CEPR Discussion Papers 7331, C.E.P.R. Discussion Papers.
  5. Mathias Dewatripont & Patrick Bolton, 2005. "Contract theory," ULB Institutional Repository 2013/9543, ULB -- Universite Libre de Bruxelles.
  6. Patrick W. Schmitz, 2006. "Information Gathering, Transaction Costs, and the Property Rights Approach," American Economic Review, American Economic Association, vol. 96(1), pages 422-434, March.
  7. Eric Maskin & John Riley, 1984. "Monopoly with Incomplete Information," RAND Journal of Economics, The RAND Corporation, vol. 15(2), pages 171-196, Summer.
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Citations

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Cited by:
  1. Hoppe, Eva I., 2013. "Observability of information gathering in agency models," MPRA Paper 43647, University Library of Munich, Germany.
  2. Hoppe, Eva I. & Schmitz, Patrick W., 2012. "Public-private partnerships versus traditional procurement: Innovation incentives and information gathering," MPRA Paper 41966, University Library of Munich, Germany.
  3. Hoppe, Eva I. & Schmitz, Patrick W., 2010. "The costs and benefits of additional information in agency models with endogenous information structures," Economics Letters, Elsevier, vol. 107(1), pages 58-62, April.
  4. Hoppe, Eva I., 2013. "Observability of information acquisition in agency models," Economics Letters, Elsevier, vol. 119(1), pages 104-107.

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