haku: @author Brock, W. / yhteensä: 3
viite: 3 / 3
« edellinen | seuraava »
| Tekijä: | Brock, W. Evans, L. |
| Otsikko: | Principal-agent contracts in continuous time asymmetric information models. The importance of large continuing information flows |
| Lehti: | Journal of Economic Behavior and Organization
1996 : MAY, VOL. 29:3, p. 523-536 |
| Asiasana: | ECONOMICS INFORMATION AGENCY THEORY |
| Kieli: | eng |
| Tiivistelmä: | There are large information flows between principals and agents in certain settings. They may be captured by continuous time models which are typically modelled as Brownian motion. This paper points out that principal-agent contracts in these models should recognise that, such is the amount of information in the flow of output of these models, the variance of a Brownian motion process can be calculated by the principal from any time span of data no matter how short, and thus the variance is public information. |
« edellinen | seuraava »
SCIMA