Title: Multi-period contracts between principal and agent with adverse selection
Abstract: Multi-period contracts with adverse selection at the time of contracting are studied. With risk-neutrality and independent private information, all inefficiency arises in the first period only. With positive serial correlation, inefficiency is more pervasive but declines over time.
Publication Year: 1985
Publication Date: 1985-01-01
Language: en
Type: article
Indexed In: ['crossref']
Access and Citation
Cited By Count: 85
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