About: Contracting over persistent information

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An Entity of Type : schema:ScholarlyArticle, within Data Space : wasabi.inria.fr associated with source document(s)

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type	Academic Article research paper schema:ScholarlyArticle
isDefinedBy	Covid-on-the-Web dataset
title	Contracting over persistent information
Creator	Zhao, Wei Mezzetti, Claudio Renou, Ludovic Tomala, Tristan
source	ArXiv
abstract	We consider a dynamic moral hazard problem between a principal and an agent, where the sole instrument the principal has to incentivize the agent is the disclosure of information. The principal aims at maximizing the (discounted) number of times the agent chooses a particular action, e.g., to work hard. We show that there exists an optimal contract, where the principal stops disclosing information as soon as its most preferred action is a static best reply for the agent or else continues disclosing information until the agent perfectly learns the principal's private information. If the agent perfectly learns the state, he learns it in finite time with probability one; the more patient the agent, the later he learns it.
has issue date	2020-07-12(xsd:dateTime)
has license	arxiv
sha1sum (hex)	b6cab1e46506bf35a055d012f31979acc15f3850
resource representing a document's title	Contracting over persistent information
resource representing a document's body	covid:b6cab1e46506bf35a055d012f31979acc15f3850#body_text
is schema:about of	named entity 'OPTIMAL' named entity 'ELSE' named entity 'optimal contract' named entity 'ex-ante' named entity 'quasi-concave' »more»

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