Filipova, Lilia - Institut für Volkswirschaftlehre, Fakultät für … - 2007
contract with conditional monitoring (i) might dominate the contract which fully includes the outcome and the monitoring signal … welfare. In the presence of privacy costs,
the contract with conditional monitoring (i) might dominate the contract which …) is ine–cient with either
contract scheme.
Keywords: moral hazard, conditional monitoring, value of information, privacy …
