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These lecture notes provide an introduction to dynamic public good provision games. These games can be used to model situations in which a group of agents collaborate to complete a project, or computer scientists developing open source software, or individuals contributing to a fundraising...
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Consider an agent who can costlessly add mean-preserving noise to his output. To deter such risk-taking, the principal optimally offers a contract that makes the agent's utility concave in output. If the agent is risk-neutral and protected by limited liability, this concavity constraint binds...
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Consider an agent who can costlessly add mean‐preserving noise to his output. To deter such risk‐taking, the principal optimally offers a contract that makes the agent's utility concave in output. If the agent is risk‐neutral and protected by limited liability, this concavity constraint...
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