Giat, Yahel; Subramanian, Ajay - In: Journal of Economic Dynamics and Control 37 (2013) 12, pp. 2833-2861
We develop a dynamic principal–agent model to show how imperfect public information and asymmetric beliefs about payoff-relevant parameters, agency conflicts, and the agent's implicit incentives to influence the principal's posterior beliefs through his unobservable actions interact to affect...