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.
|Date of creation:||16 Nov 2009|
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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.
- Mathias Dewatripont & Ian Jewitt & Jean Tirole, 1999.
"The Economics of Career Concerns, Part I: Comparing Information Structures,"
Review of Economic Studies,
Oxford University Press, vol. 66(1), pages 183-198.
- Mathias Dewatripont & Ian Jewitt & Jean Tirole, 1999. "The economics of career concerns: part 1 :comparing information structures," ULB Institutional Repository 2013/9617, ULB -- Universite Libre de Bruxelles.
- Bengt Holmström, 1999. "Managerial Incentive Problems: A Dynamic Perspective," Review of Economic Studies, Oxford University Press, vol. 66(1), pages 169-182.
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