Walzl, Markus; Feess, Eberhard; Schieble, Michael - 2001
assumption that the principal has private information. We focus on whether the principal should reveal his private information to … the agent. On the one hand, revelation allows to adjust the agent's effort to the best information available. On the other … hand, the agent's marginal information rent can be reduced if the principal conceals his private information, because the …