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Should principals explain and justify their evaluations? In this paper the principal's evaluation is private information, but she can provide justification by sending a costly cheap-talk message. I show that the principal explains her evaluation to the agent if the evaluation turns out to be...
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example of a "delegation-scheme." Conversely, project aid represents a more "centralized" type of aid. According to the theory …
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" consists of unverifiable information and the quality of communication depends on the conflict of interests between the …
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