The Interaction of Explicit and Implicit Contracts
We analyze explicit and implicit contracts in a repeated principal-agent model with observable but only partially contractible actions of the agent. It is shown that the set of implementable actions may increase or decrease if additional actions become contractible.
|Date of creation:||Jul 1994|
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- Eaton, Jonathan, 1993.
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- Abreu, Dilip, 1988. "On the Theory of Infinitely Repeated Games with Discounting," Econometrica, Econometric Society, vol. 56(2), pages 383-396, March. Full references (including those not matched with items on IDEAS)
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