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Persistent link: https://www.econbiz.de/10005160104
This paper presents a principal-agent model in which the agent has imprecise beliefs. We model this situation formally by assuming the agent[modifier letter apostrophe]s preferences are incomplete as in Bewley (1986) [2]. In this setting, incentives must be robust to Knightian uncertainty. We...
Persistent link: https://www.econbiz.de/10009194567
Persistent link: https://www.econbiz.de/10005153833