information asymmetries about firm value by shareholders in continuous time. The dynamics of the stock price process are affected … compensation is the point in time at which the stock price is most informative about the manager's action. When exogenous shocks … accumulate at a constant rate over time and learning occurs at a decreasing rate, the optimal timing of compensation is the point …

This study jointly examines agents’ time dependence—period effects within instantaneous utility—and time preference …—behavior on discounting future utility. The study considers the start- and end-of-period effects for time dependence and … exponential and hyperbolic discounting for time preference. It provides identification arguments and sufficient conditions for …