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I present a model in which a principal selects one among many agents to develop a project and influences the agent's ex post level of effort not by outcome-contingent rewards, but by the choice of the project's mission. The closer the project's mission to the agent's preferred mission, the...
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A setting of reliance investments is explored where one of the parties to a contract obtains private information … difficult task to award expectation damages corrrectly to a party with private information who sufffers from breach of contract …
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. Theoretical results indicate that the specification contract under the principal-agent framework is of limited utility due to …
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principle, the optimal contract under non-verifiability is derived by employing the theory of communication equilibrium. …
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