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Persistent link: https://www.econbiz.de/10001731843
We propose a theory of supervision with endogenous transaction costs. A principal delegates part of his authority to a …
Persistent link: https://www.econbiz.de/10012771161
We consider a game between a principal, an agent, and a monitor in which the principal would like to rely on messages by the monitor to target intervention against a misbehaving agent. The difficulty is that the agent can credibly threaten to retaliate against likely whistleblowers in the event...
Persistent link: https://www.econbiz.de/10013050290
We consider a game between a principal, an agent, and a monitor in which the principal would like to rely on messages by the monitor to target intervention against a misbehaving agent. The difficulty is that the agent can credibly threaten to retaliate against likely whistleblowers in the event...
Persistent link: https://www.econbiz.de/10013033647
This paper characterizes the efficient sequential equilibrium when a government uses indirect control to exert its … to exert direct control by intervening with an endogenously determined intensity of force which is costly to both players …
Persistent link: https://www.econbiz.de/10013147577
Persistent link: https://www.econbiz.de/10009544346
This paper characterizes the efficient sequential equilibrium when a government uses indirect control to exert its … to exert direct control by intervening with an endogenously determined intensity of force which is costly to both players …
Persistent link: https://www.econbiz.de/10012462907
We consider a game between a principal, an agent, and a monitor in which the principal would like to rely on messages by the monitor to target intervention against a misbehaving agent. The difficulty is that the agent can credibly threaten to retaliate against likely whistleblowers in the event...
Persistent link: https://www.econbiz.de/10012458351
Persistent link: https://www.econbiz.de/10012171128
This paper characterizes optimal policy when a government uses indirect control to exert its authority. We develop a … standard repeated moral hazard model with two additional features. First, the principal is allowed to exert direct control by …
Persistent link: https://www.econbiz.de/10014040910