The Informativeness Principle Under Limited Liability
收藏NBER2014-09-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w20456
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资源简介：
This paper shows that the informativeness principle does not automatically extend to settings with limited liability. Even if a signal is informative about effort, it may have no value for contracting. An agent with limited liability is paid zero for certain output realizations. Thus, even if these
提供机构：
美国国家经济研究局
创建时间：
2014-09-01
