The Resource Continuous-time contracting with ambiguous information, Martin Dumav, Frank Riedel

Continuous-time contracting with ambiguous information, Martin Dumav, Frank Riedel

Label
Continuous-time contracting with ambiguous information
Title
Continuous-time contracting with ambiguous information
Statement of responsibility
Martin Dumav, Frank Riedel
Creator
Contributor
Author
Subject
Language
eng
Summary
This study examines the contracting problem in continuous time with ambiguous information. A problem of this nature arises, for example, in an employment relationship where there is limited knowledge, or ambiguity, about the technology that governs the performance. To address this problem, we connect the models of contracting problem in continuous time with the models of decision making under ambiguity in continuous time. The connection uses the continuous-time techniques and preserves the tractability in analysis. By means of computed examples we show that the consideration of ambiguity results in compensation schemes that are less sensitive to performance relative to the classical case. This answers to a criticism leveled at the extant theories of contracts that predicted compensation schemes that are unrealistically too sensitive to performance. Our work provides one possible rationale for simpler contracts through ambiguity
Member of
Cataloging source
IT-FiEUI
http://library.link/vocab/creatorName
Dumav, Martin
Index
no index present
Literary form
non fiction
http://library.link/vocab/relatedWorkOrContributorDate
1968-
http://library.link/vocab/relatedWorkOrContributorName
  • Riedel, Frank
  • Max Weber Programme
Series statement
  • EUI working papers. MWP
  • EUI papers
Series volume
2014/16
http://library.link/vocab/subjectName
  • Stochastic processes
  • Econometric models
Label
Continuous-time contracting with ambiguous information, Martin Dumav, Frank Riedel
Link
http://hdl.handle.net/1814/32195
Instantiates
Publication
Note
Subjects: Ambiguity; Contracts; Continuous-time stochastic methods; D82; D86; J33
Carrier category
volume
Carrier category code
nc
Carrier MARC source
rdacarrier.
Content category
text
Content type code
txt
Content type MARC source
rdacontent.
Control code
FIEb17591788
Dimensions
30 cm.
Extent
26 pages
Media category
unmediated
Media MARC source
rdamedia.
Media type code
n
System control number
(OCoLC)914479060
Label
Continuous-time contracting with ambiguous information, Martin Dumav, Frank Riedel
Link
http://hdl.handle.net/1814/32195
Publication
Note
Subjects: Ambiguity; Contracts; Continuous-time stochastic methods; D82; D86; J33
Carrier category
volume
Carrier category code
nc
Carrier MARC source
rdacarrier.
Content category
text
Content type code
txt
Content type MARC source
rdacontent.
Control code
FIEb17591788
Dimensions
30 cm.
Extent
26 pages
Media category
unmediated
Media MARC source
rdamedia.
Media type code
n
System control number
(OCoLC)914479060

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