Optimal contracts with contingent allocation

被引：0

作者：

Chillemi, Ottorino ^{[1
]}

Galavotti, Stefano ^{[2
]}

Gui, Benedetto ^{[3
]}

机构：

[1] Univ Padua, Dept Econ & Management, Padua, Italy

[2] Univ Bari, Dept Econ Management & Corp Law, Largo Abbazia Santa Scolastica 53, I-70124 Bari, Italy

[3] Sophia Univ Inst, Dept Econ & Management, Valdarno, Italy

来源：

ECONOMICS LETTERS | 2020年 / 192卷

关键词：

Ex-post information; signal; contingent contracts; CORRELATED INFORMATION; EXTRACTION; SURPLUS; AGENCY; DESIGN;

D O I：

10.1016/j.econlet.2020.109202

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We study the contractual design problem of a seller that observes an ex-post signal correlated with the buyer's valuation and can make the allocation, but not payments, contingent on it. We show that, to maximize her profit, the seller should offer a menu of contracts whereby the good is transferred to the buyer only if the signal is sufficiently low. The welfare implications of these contracts are also discussed. (C) 2020 Elsevier B.V. All rights reserved.

引用

页数：4

共 50 条

[1] OPTIMAL NONLINEAR PRICING AND CONTINGENT CONTRACTS
SPULBER, DF
INTERNATIONAL ECONOMIC REVIEW, 1992, 33 (04) : 747 - 772
[2] CONTINGENT CONTRACTS
LUNCH, MF
CIVIL ENGINEERING, 1969, 39 (10): : 60 - &
[3] IMPLEMENTATION WITH CONTINGENT CONTRACTS
Deb, Rahul
Mishra, Debasis
ECONOMETRICA, 2014, 82 (06) : 2371 - 2393
[4] Implementability with contingent contracts
Yoon, Kiho
ECONOMICS LETTERS, 2020, 188
[5] Raising and allocation capital principles as optimal managerial contracts
Mierzejewski, Fernando
SCANDINAVIAN ACTUARIAL JOURNAL, 2013, 2013 (01) : 24 - 48
[6] Contingent Contracts and Value Creation
H. W. Stuart
Group Decision and Negotiation, 2017, 26 : 815 - 827
[7] EMPLOYMENT CONTINGENT WAGE CONTRACTS
CALVO, GA
PHELPS, ES
CARNEGIE-ROCHESTER CONFERENCE SERIES ON PUBLIC POLICY, 1977, 5 : 160 - 168
[8] CONTINGENT PAYMENTS AND DEBT CONTRACTS
DE, S
KALE, JR
FINANCIAL MANAGEMENT, 1993, 22 (02) : 106 - 122
[9] Contingent Contracts and Value Creation
Stuart, H. W., Jr.
GROUP DECISION AND NEGOTIATION, 2017, 26 (04) : 815 - 827
[10] Bilateral trading with contingent contracts
Yoon, Kiho
INTERNATIONAL JOURNAL OF GAME THEORY, 2020, 49 (02) : 445 - 461

← 1 2 3 4 5 →