Unforeseen Contingency and Renegotiation with Asymmetric Information
نویسندگان
چکیده
منابع مشابه
Contracts , Information Persistence , and Renegotiation ∗
This paper studies how renegotiation and information persistence shape long-term contracts in principal-agent relationships. Truthful contracts that are renegotiation-proof, according to a concept tailored to account for persistence in the agent’s type, are characterized by their sensitivity to the reports of the agent. The sensitivity of the optimal renegotiation-proof contract is increasing i...
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ژورنال
عنوان ژورنال: The Economic Journal
سال: 2008
ISSN: 0013-0133,1468-0297
DOI: 10.1111/j.1468-0297.2008.02137.x