Learning in Bayesian regulation: desirable or undesirable?
We examine the social desirability of learning about the regulated agent in a generalized principal-agent model with incomplete information. An interesting result we obtain is that there are situations in which the agent prefers a Bayesian regulator to have more, yet incomplete, information about his private type.
Volume (Year): 3 (2007)
Issue (Month): 12 ()
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- Roger B. Myerson, 1977.
"Incentive Compatability and the Bargaining Problem,"
284, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
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- Semih Koray & Ismail Saglam, 2005. "The Need for Regulating a Bayesian Regulator," Journal of Regulatory Economics, Springer, vol. 28(1), pages 5-21, 07.
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