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analysis but is actually without loss of generality with a continuum of types. -- asymmetric information ; stochastic process …
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We study relative performance of stochastic and deterministic mechanisms in a principal-agent model with hidden information and no monetary transfers. We present an example in which stochastic mechanisms perform strictly better than deterministic ones and can implement any outcome arbitrarily...
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greatly simplify the analysis, it is actually without loss of generality. -- asymmetric information ; stochastic process …
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