Logo
Munich Personal RePEc Archive

A model of delegated project choice

Armstrong, Mark and Vickers, John (2008): A model of delegated project choice.

Warning
There is a more recent version of this item available.
[thumbnail of MPRA_paper_8963.pdf]
Preview
PDF
MPRA_paper_8963.pdf

Download (370kB) | Preview

Abstract

We present a model in which a principal delegates the choice of project to an agent with different preferences. The principal determines the set of projects from which the agent may choose. The principal can verify the characteristics of the project chosen by the agent, but does not know which other projects are available to the agent. Two frameworks are considered: (i) a static setting in which the collection of available projects is exogenous to the agent but uncertain, and (ii) a dynamic setting in which the agent searches for projects.

Available Versions of this Item

Atom RSS 1.0 RSS 2.0

Contact us: mpra@ub.uni-muenchen.de

This repository has been built using EPrints software.

MPRA is a RePEc service hosted by Logo of the University Library LMU Munich.