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Persistent link: https://www.econbiz.de/10003820032
A decision maker, named Alice, wants to know if an expert has significant information about payoff-relevant probabilities of future events. The expert, named Bob, either knows this probability almost perfectly or knows nothing about it. Hence, both Alice and the uninformed expert face...
Persistent link: https://www.econbiz.de/10011702645
Persistent link: https://www.econbiz.de/10013197680
We study a repeated principal-agent model with transferable utility, where the principal's evaluation of the agent's performance is subjective. Our focus is on equilibria which are robust to the addition of small privately observed shocks to the payoffs. Existing constructions of positive-effort...
Persistent link: https://www.econbiz.de/10014635277