The interaction of explicit and implicit contracts

We analyze explicit and implicit contracts in a repeated principal-agent model with observable but only partially contractable actions of the agent. It is shown that the set of implementable actions may increase or decrease if additional actions become contractable.

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Year of publication:	1995
Authors:	Schmidt, Klaus M. ; Schnitzer, Monika
Institutions:	Volkswirtschaftliche Fakultät, Ludwig-Maximilians-Universität München

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Series:	Munich Reprints in Economics.
Type of publication:	Book / Working Paper
Notes:	Published in Economics Letters 2 48(1995): pp. 193-199
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010762310