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information. They willing to trade the amounts of state-contingent commodities and they know their own expectations. Common … optimal. Furthermore we introduce rational expectations equilibrium under the non-partition information, and prove the …
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contract theory. Contract theory is a subfield of game theory where the conflict between the owner - the principal - and the …
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contract theory. Contract theory is a subfield of game theory where the conflict between the owner - the principal - and the …
Persistent link: https://www.econbiz.de/10011588720
Given that young children are under the control of their parents, if the government has a interest in either the welfare or the productivity of the former, it has no option but to act through the latter,. Parents are, in the ordynary sense....
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an agent's freedom of choice when his information is endogenous and costly to acquire. We show that curtailing the agent … options is derived as a second best optimal contract when his information acquisition technology is "success enhancing" and …
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