We consider how a principal can optimally outsource information acquisition to an agent in a dynamic environment when the principal can observe neither the agent's effort of collecting information nor signal realizations. Neither initial transaction nor interim payments are allowed to prevent...

A repeated moral hazard setting in which the Principal privately observes the Agent's output is studied. It is shown that there is no loss from restricting the analysis to contracts in which the Agent is supposed to exert effort every period, receives a constant efficiency wage and no feedback...