- Abstract:
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We present a model in which a principal delegates the choice of project to an agent with different preferences. A project's characteristics are verifiable once presented to the principal, but the principal does not know how many projects are available to the agent. The principal chooses the set of projects which the agent can implement. Three frameworks are considered: (i) a static setting in which the set of available projects is exogenous to the agent but uncertain; (ii) a dynamic setting i...
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- Volume:
- 347
- Series:
- Discussion Papers
- Publication date:
- 2007-01-01
- URN:
-
uuid:81e5e58e-0b1d-4105-99ba-83191475ab28
- Local pid:
- oai:economics.ouls.ox.ac.uk:12124
- Language:
- English
- Copyright date:
- 2007
Working paper
A Model of Delegated Project Choice With Application to Merger Policy.
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