Economics at your fingertips  

Strategies in the principal-agent model

James Mirrlees and Roberto Raimondo ()

Economic Theory, 2013, vol. 53, issue 3, 605-656

Abstract: In this paper, we study the principal-agent problem. It is well known that in continuous-time, it is possible to prove the existence of an equilibrium $$ (u^{*},S^{*})$$ in a considerably general setting, and however little is known about the strategies themselves. Our goal is to present a universal way to construct these strategies as limiting strategies of a very simple type. Copyright Springer-Verlag 2013

Keywords: Agency theory; Principal-agent problems; Incentive schemes; Brownian motion; D81 (search for similar items in EconPapers)
Date: 2013
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1) Track citations by RSS feed

Downloads: (external link) (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link:

Ordering information: This journal article can be ordered from
http://www.springer. ... eory/journal/199/PS2

DOI: 10.1007/s00199-012-0706-2

Access Statistics for this article

Economic Theory is currently edited by Nichoals Yanneils

More articles in Economic Theory from Springer, Society for the Advancement of Economic Theory (SAET) Contact information at EDIRC.
Bibliographic data for series maintained by Sonal Shukla ().

Page updated 2020-03-29
Handle: RePEc:spr:joecth:v:53:y:2013:i:3:p:605-656