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Dynamic Incentive Contracts Under Parameter Uncertainty

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NBER2010-12-01 更新2025-01-04 收录
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https://www.nber.org/papers/w16649
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We analyze a long-term contracting problem involving common uncertainty about a parameter capturing the productivity of the relationship, and featuring a hidden action for the agent. We develop an approach that works for any utility function when the parameter and noise are normally distributed and
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2010-12-01
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