Arm's-Length Relationships without Moral Hazard
I show that cutting the flow of information between a principal and an agent can increase the power of the incentives of the agent to reveal private information. (JEL: D23, D82, D86, L20) (c) 2010 by the European Economic Association.
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Volume (Year): 8 (2010)
Issue (Month): 2-3 (04-05)
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- Milgrom, Paul, 1987.
"Adverse Selection Without Hidden Information,"
Department of Economics, Working Paper Series
qt62t1w8hf, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
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