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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"Incentive Compatibility and the Bargaining Problem,"
Econometric Society, vol. 47(1), pages 61-73, January.
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