Economics and the Public Purpose - Document - PDFSEARCH.IO

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	Abstract We study a principal-agent model in which the (effort-dependent) realization of output levels is ambiguous, and the agent is ambiguity averse (while the principal is ambiguity neutral). We show that introducing Add to Reading List Document Date: 2014-11-18 06:35:26 Open Document File Size: 762,07 KB Share Result on Facebook

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Abstract We study a principal-agent model in which the (effort-dependent) realization of output levels is ambiguous, and the agent is ambiguity averse (while the principal is ambiguity neutral). We show that introducing Add to Reading List