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We analyze delegation of a set of decisions over time by an informed principal to a potentially biased agent. Each period the principal observes a state of the world and sends a “cheap-talk” message to the agent, who is privately informed about her bias. We focus on principal-optimal...
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information acquisition and costless communication. When the agency problem concerning information acquisition is sufficiently … ; Contract ; Communication ; Cheap talk ; Information acquisition …
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We develop a comprehensive measure of the quality of corporate financial communication. Net bad flows (NBF) captures …
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information acquisition and costless communication. When the agency problem concerning information acquisition is sufficiently …
Persistent link: https://www.econbiz.de/10014204676