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Screening for breakthroughs

Author

Listed:
  • Curello, Gregorio

    (Department of Economics, University of Mannheim)

  • Sinander, Ludvig

    (Department of Economics and Nuffield College, University of Oxford)

Abstract

How best to incentivise disclosure? We study this question in a general model in which a technological breakthrough occurs at an uncertain time and is privately observed by an agent, and a principal must incentivise disclosure via her control of a payoff-relevant physical allocation. We uncover a deadline structure of optimal mechanisms: they have a simple deadline form in an important special case, and a graduated deadline structure in general. We apply our results to the design of unemployment insurance schemes.

Suggested Citation

  • Curello, Gregorio & Sinander, Ludvig, 0. "Screening for breakthroughs," Theoretical Economics, Econometric Society.
    • Handle: RePEc:the:publsh:6247
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    More about this item

    Keywords

    Dynamic mechanism design; delegation; disclosure; deadline;
    All these keywords.

    JEL classification:

    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • J65 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Unemployment Insurance; Severance Pay; Plant Closings

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