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economics ; incomplete contracts ; construction ; agency theory ; industry studies ; outsourcing ; procurement …
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agents to withhold effort. We investigate when this behavioral result arises. In an extensive laboratory experiment, we find … acting as a principal. -- experiment ; principal-agent problem ; hidden cost of control …
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Delacroix and Shi (Pricing and signaling with frictions, Journal of Economics Theory 2013) study a model featuring … get a signal about quality but the signalling technology is quite specific; the signal is either completely revealing or … uninformative. The author studies the same model with a symmetric signalling technology where high and low signals are always got …
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