| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP10279 |
| DP10279 The Generalized Informativeness Principle | |
| Alex Edmans; Pierre Chaigneau | |
| 发表日期 | 2014-12-07 |
| 出版年 | 2014 |
| 语种 | 英语 |
| 摘要 | This paper shows that the informativeness principle, as originally formulated by Holmstrom (1979), does not hold if the first-order approach is invalid. We introduce a "generalized informativeness principle" that takes into account non-local incentive constraints and holds generically, even without the first-order approach. Our result holds for both separable and non-separable utility functions. |
| 主题 | Financial Economics ; Labour Economics |
| 关键词 | Contract theory Informativeness principle. Principal-agent model |
| URL | https://cepr.org/publications/dp10279 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/539111 |
| 推荐引用方式 GB/T 7714 | Alex Edmans,Pierre Chaigneau. DP10279 The Generalized Informativeness Principle. 2014. |
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