메뉴 건너뛰기




Volumn 79, Issue 4, 2011, Pages 1233-1275

Persistent private information

Author keywords

Continuous time; Dynamic contracting; Principal agent model; Stochastic control

Indexed keywords


EID: 79959904578     PISSN: 00129682     EISSN: 14680262     Source Type: Journal    
DOI: 10.3982/ECTA7706     Document Type: Article
Times cited : (92)

References (36)
  • 1
    • 52149115394 scopus 로고    scopus 로고
    • Efficient Allocations With Moral Hazard and Hidden Borrowing and Lending
    • DOI: 10.1016/j.red.2008.05.001
    • Abraham, A., and N. Pavoni (2008): "Efficient Allocations With Moral Hazard and Hidden Borrowing and Lending," Review of Economic Dynamics, 11, 781-803. DOI: 10.1016/j.red.2008.05.001
    • (2008) Review of Economic Dynamics , vol.11 , pp. 781-803
    • Abraham, A.1    Pavoni, N.2
  • 2
    • 0002389286 scopus 로고
    • Optimal Cartel Equilibria With Imperfect Monitoring
    • DOI: 10.1016/0022-0531(86)90028-1
    • Abreu, D., D. Pearce, and E. Stacchetti (1986): "Optimal Cartel Equilibria With Imperfect Monitoring," Journal of Economic Theory, 39, 251-269. DOI: 10.1016/0022-0531(86)90028-1
    • (1986) Journal of Economic Theory , vol.39 , pp. 251-269
    • Abreu, D.1    Pearce, D.2    Stacchetti, E.3
  • 3
    • 0000576130 scopus 로고
    • Toward a Theory of Discounted Repeated Games With Imperfect Monitoring
    • DOI: 10.2307/2938299
    • Abreu, D., D. Pearce, and E. Stacchetti (1990): "Toward a Theory of Discounted Repeated Games With Imperfect Monitoring," Econometrica, 58, 1041-1063. DOI: 10.2307/2938299
    • (1990) Econometrica , vol.58 , pp. 1041-1063
    • Abreu, D.1    Pearce, D.2    Stacchetti, E.3
  • 4
    • 84962996696 scopus 로고
    • On Efficient Distribution With Private Information
    • DOI: 10.2307/2297858
    • Atkeson, A., and R. E. Lucas (1992): "On Efficient Distribution With Private Information," Review of Economic Studies, 59, 427-453. DOI: 10.2307/2297858
    • (1992) Review of Economic Studies , vol.59 , pp. 427-453
    • Atkeson, A.1    Lucas, R.E.2
  • 5
    • 30844461258 scopus 로고    scopus 로고
    • Long-Term Contracting With Markovian Consumers
    • DOI: 10.1257/0002828054201369
    • Battaglini, M. (2005): "Long-Term Contracting With Markovian Consumers," American Economic Review, 95, 637-658. DOI: 10.1257/0002828054201369
    • (2005) American Economic Review , vol.95 , pp. 637-658
    • Battaglini, M.1
  • 6
    • 33947627035 scopus 로고    scopus 로고
    • Dynamic Security Design: Convergence to Continuous Time and Asset Pricing Implications
    • DOI: 10.1111/j.1467-937X.2007.00425.x
    • Biais, B., T. Mariotti, G. Plantin, and J.-C. Rochet (2007): "Dynamic Security Design: Convergence to Continuous Time and Asset Pricing Implications," Review of Economic Studies, 74, 345-390. DOI: 10.1111/j.1467-937X.2007.00425.x
    • (2007) Review of Economic Studies , vol.74 , pp. 345-390
    • Biais, B.1    Mariotti, T.2    Plantin, G.3    Rochet, J.-C.4
  • 7
    • 0000929070 scopus 로고
    • Conjugate Convex Functions in Optimal Stochastic Control
    • DOI: 10.1016/0022-247X(73)90066-8
    • Bismut, J. M. (1973): "Conjugate Convex Functions in Optimal Stochastic Control," Journal of Mathematical Analysis and Applications, 44, 384-404. DOI: 10.1016/0022-247X(73)90066-8
    • (1973) Journal of Mathematical Analysis and Applications , vol.44 , pp. 384-404
    • Bismut, J.M.1
  • 8
    • 79959892172 scopus 로고
    • Duality Methods in the Control of Densities
    • DOI: 10.1137/0316052
    • Bismut, J. M. (1978): "Duality Methods in the Control of Densities," SIAM Journal on Control and Optimization, 16, 771-777. DOI: 10.1137/0316052
    • (1978) SIAM Journal on Control and Optimization , vol.16 , pp. 771-777
    • Bismut, J.M.1
  • 9
    • 0009713512 scopus 로고
    • An Intertemporal Asset Pricing Model With Stochastic Consumption and Investment Opportunities
    • DOI: 10.1016/0304-405X(79)90016-3
    • Breeden, D. (1979): "An Intertemporal Asset Pricing Model With Stochastic Consumption and Investment Opportunities," Journal of Financial Economics, 7, 265-296. DOI: 10.1016/0304-405X(79)90016-3
    • (1979) Journal of Financial Economics , vol.7 , pp. 265-296
    • Breeden, D.1
  • 10
    • 49749140774 scopus 로고    scopus 로고
    • Optimal Compensation With Adverse Selection and Dynamic Actions
    • DOI: 10.1007/s11579-007-0002-2
    • Cvitanić, J., and J. Zhang (2007): "Optimal Compensation With Adverse Selection and Dynamic Actions," Mathematics and Financial Economics, 1, 21-55. DOI: 10.1007/s11579-007-0002-2
    • (2007) Mathematics and Financial Economics , vol.1 , pp. 21-55
    • Cvitanić, J.1    Zhang, J.2
  • 11
    • 57849165486 scopus 로고    scopus 로고
    • Optimal Compensation With Hidden Action and Lump-Sum Payment in a Continuous-Time Model
    • DOI: 10.1007/s00245-008-9050-0
    • Cvitanić, J., X. Wan, and J. Zhang (2009): "Optimal Compensation With Hidden Action and Lump-Sum Payment in a Continuous-Time Model," Applied Mathematics and Optimization, 59, 99-146. DOI: 10.1007/s00245-008-9050-0
    • (2009) Applied Mathematics and Optimization , vol.59 , pp. 99-146
    • Cvitanić, J.1    Wan, X.2    Zhang, J.3
  • 12
    • 33846205687 scopus 로고    scopus 로고
    • Optimal Security Design and Dynamic Capital Structure in a Continuous-Time Agency Model
    • DOI: 10.1111/j.1540-6261.2006.01002.x
    • DeMarzo, P. M., and Y. Sannikov (2006): "Optimal Security Design and Dynamic Capital Structure in a Continuous-Time Agency Model," Journal of Finance, 61, 2681-2724. DOI: 10.1111/j.1540-6261.2006.01002.x
    • (2006) Journal of Finance , vol.61 , pp. 2681-2724
    • DeMarzo, P.M.1    Sannikov, Y.2
  • 13
    • 0345854934 scopus 로고    scopus 로고
    • A Recursive Formulation for Repeated Agency With History Dependence
    • DOI: 10.1006/jeth.1999.2619
    • Fernandes, A., and C. Phelan (2000): "A Recursive Formulation for Repeated Agency With History Dependence," Journal of Economic Theory, 91, 223-247. DOI: 10.1006/jeth.1999.2619
    • (2000) Journal of Economic Theory , vol.91 , pp. 223-247
    • Fernandes, A.1    Phelan, C.2
  • 14
    • 33646441024 scopus 로고    scopus 로고
    • Designing Optimal Disability Insurance: A Case for Asset Testing
    • DOI: 10.1086/500549
    • Golosov, M., and A. Tsyvinski (2006): "Designing Optimal Disability Insurance: A Case for Asset Testing," Journal of Political Economy, 114, 257-279. DOI: 10.1086/500549
    • (2006) Journal of Political Economy , vol.114 , pp. 257-279
    • Golosov, M.1    Tsyvinski, A.2
  • 15
    • 0043269774 scopus 로고    scopus 로고
    • Optimal Indirect and Capital Taxation
    • DOI: 10.1111/1467-937X.00256
    • Golosov, M., N. Kocherlakota, and A. Tsyvinski (2003): "Optimal Indirect and Capital Taxation," Review of Economic Studies, 70, 569-587. DOI: 10.1111/1467-937X.00256
    • (2003) Review of Economic Studies , vol.70 , pp. 569-587
    • Golosov, M.1    Kocherlakota, N.2    Tsyvinski, A.3
  • 16
    • 0001802430 scopus 로고
    • Lending and the Smoothing of Uninsurable Income
    • In, ed. by E. C. Prescott and N. Wallace. Minneapolis: University of Minnesota Press
    • Green, E. J. (1987): "Lending and the Smoothing of Uninsurable Income," in Contractual Arrangements for Intertemporal Trade, ed. by E. C. Prescott and N. Wallace. Minneapolis: University of Minnesota Press, 3-25.
    • (1987) Contractual Arrangements for Intertemporal Trade , pp. 3-25
    • Green, E.J.1
  • 18
    • 79959867181 scopus 로고    scopus 로고
    • quot;Efficient Allocations in Dynamic Private Information Economies With Persistent Shocks: A First Order Approach," Working Paper, University of California, Santa Barbara.
    • Kapicka, M. (2006): "Efficient Allocations in Dynamic Private Information Economies With Persistent Shocks: A First Order Approach," Working Paper, University of California, Santa Barbara.
    • (2006)
    • Kapicka, M.1
  • 20
    • 3242674496 scopus 로고    scopus 로고
    • Figuring Out The Impact of Hidden Savings on Optimal Unemployment Insurance
    • DOI: 10.1016/j.red.2004.01.003
    • Kocherlakota, N. (2004): "Figuring Out The Impact of Hidden Savings on Optimal Unemployment Insurance," Review of Economic Dynamics, 7, 541-554. DOI: 10.1016/j.red.2004.01.003
    • (2004) Review of Economic Dynamics , vol.7 , pp. 541-554
    • Kocherlakota, N.1
  • 21
    • 0003026996 scopus 로고
    • Dynamic Optimal Taxation, Rational Expectations and Optimal Control
    • DOI: 10.1016/0165-1889(80)90052-4
    • Kydland, F. E., and E. C. Prescott (1980): "Dynamic Optimal Taxation, Rational Expectations and Optimal Control," Journal of Economic Dynamics and Control, 2, 79-91. DOI: 10.1016/0165-1889(80)90052-4
    • (1980) Journal of Economic Dynamics and Control , vol.2 , pp. 79-91
    • Kydland, F.E.1    Prescott, E.C.2
  • 23
    • 1642309472 scopus 로고    scopus 로고
    • Income Variance Dynamics and Heterogeneity
    • DOI: 10.1111/j.1468-0262.2004.00476.x
    • Meghir, C., and L. Pistaferri (2004): "Income Variance Dynamics and Heterogeneity," Econometrica, 72, 1-32. DOI: 10.1111/j.1468-0262.2004.00476.x
    • (2004) Econometrica , vol.72 , pp. 1-32
    • Meghir, C.1    Pistaferri, L.2
  • 24
    • 0002037587 scopus 로고
    • Repeated Moral Hazard
    • DOI: 10.2307/1911724
    • Rogerson, W. P. (1985): "Repeated Moral Hazard," Econometrica, 53, 69-76. DOI: 10.2307/1911724
    • (1985) Econometrica , vol.53 , pp. 69-76
    • Rogerson, W.P.1
  • 25
    • 79959889560 scopus 로고    scopus 로고
    • quot;Agency Problems, Screening and Increasing Credit Lines," Working Paper, UC Berkeley.
    • Sannikov, Y. (2007): "Agency Problems, Screening and Increasing Credit Lines," Working Paper, UC Berkeley.
    • (2007)
    • Sannikov, Y.1
  • 26
    • 45249101176 scopus 로고    scopus 로고
    • A Continuous-Time Version of the Principal-Agent Problem
    • DOI: 10.1111/j.1467-937X.2008.00486.x
    • Sannikov, Y. (2008): "A Continuous-Time Version of the Principal-Agent Problem," Review of Economic Studies, 75, 957-984. DOI: 10.1111/j.1467-937X.2008.00486.x
    • (2008) Review of Economic Studies , vol.75 , pp. 957-984
    • Sannikov, Y.1
  • 27
    • 38249000224 scopus 로고
    • The First-Order Approach to the Continuous-Time Principal-Agent Problem With Exponential Utility
    • DOI: 10.1006/jeth.1993.1072
    • Schattler, H., and J. Sung (1993): "The First-Order Approach to the Continuous-Time Principal-Agent Problem With Exponential Utility," Journal of Economic Theory, 61, 331-371. DOI: 10.1006/jeth.1993.1072
    • (1993) Journal of Economic Theory , vol.61 , pp. 331-371
    • Schattler, H.1    Sung, J.2
  • 28
    • 0010929674 scopus 로고
    • On Repeated Moral Hazard With Discounting
    • DOI: 10.2307/2297484
    • Spear, S., and S. Srivastrava (1987): "On Repeated Moral Hazard With Discounting," Review of Economic Studies, 54, 599-617. DOI: 10.2307/2297484
    • (1987) Review of Economic Studies , vol.54 , pp. 599-617
    • Spear, S.1    Srivastrava, S.2
  • 29
    • 1642600836 scopus 로고    scopus 로고
    • Cyclical Dynamics in Idiosyncratic Labor Market Risk
    • DOI: 10.1086/383105
    • Storesletten, K., C. I. Telmer, and A. Yaron (2004): "Cyclical Dynamics in Idiosyncratic Labor Market Risk," Journal of Political Economy, 112, 695-717. DOI: 10.1086/383105
    • (2004) Journal of Political Economy , vol.112 , pp. 695-717
    • Storesletten, K.1    Telmer, C.I.2    Yaron, A.3
  • 30
    • 79959886440 scopus 로고    scopus 로고
    • quot;Security Design With Correlated Hidden Cash Flows: The Optimality of Performance Pricing," Working Paper, NYU Stern School of Business.
    • Tchistyi, A. (2006): "Security Design With Correlated Hidden Cash Flows: The Optimality of Performance Pricing," Working Paper, NYU Stern School of Business.
    • (2006)
    • Tchistyi, A.1
  • 31
    • 0000330880 scopus 로고
    • Income Fluctuation and Asymmetric Information: An Example of a Repeated Principal-Agent Problem
    • DOI: 10.1016/0022-0531(90)90023-D
    • Thomas, J., and T. Worrall (1990): "Income Fluctuation and Asymmetric Information: An Example of a Repeated Principal-Agent Problem," Journal of Economic Theory, 51, 367-390. DOI: 10.1016/0022-0531(90)90023-D
    • (1990) Journal of Economic Theory , vol.51 , pp. 367-390
    • Thomas, J.1    Worrall, T.2
  • 32
    • 79959861276 scopus 로고    scopus 로고
    • quot;Optimal Unemployment Insurance With Unobservable Saving," Working Paper, MIT.
    • Werning, I. (2001): "Optimal Unemployment Insurance With Unobservable Saving," Working Paper, MIT.
    • (2001)
    • Werning, I.1
  • 33
    • 79959865373 scopus 로고    scopus 로고
    • quot;On Dynamic Principal-Agent Models in Continuous Time," Working Paper, University of Wisconsin-Madison.
    • Williams, N. (2009): "On Dynamic Principal-Agent Models in Continuous Time," Working Paper, University of Wisconsin-Madison.
    • (2009)
    • Williams, N.1
  • 35
    • 59749092345 scopus 로고    scopus 로고
    • Dynamic Contracting With Persistent Shocks
    • DOI: 10.1016/j.jet.2008.08.004
    • Zhang, Y. (2009): "Dynamic Contracting With Persistent Shocks," Journal of Economic Theory, 144, 635-675. DOI: 10.1016/j.jet.2008.08.004
    • (2009) Journal of Economic Theory , vol.144 , pp. 635-675
    • Zhang, Y.1
  • 36
    • 0030211386 scopus 로고    scopus 로고
    • Sufficient Conditions of Optimality for Stochastic Systems With Controllable Diffusions
    • DOI: 10.1109/9.533678
    • Zhou, X. Y. (1996): "Sufficient Conditions of Optimality for Stochastic Systems With Controllable Diffusions," IEEE Transactions on Automatic Control, AC-41, 1176-1179. DOI: 10.1109/9.533678
    • (1996) IEEE Transactions on Automatic Control , vol.AC-41 , pp. 1176-1179
    • Zhou, X.Y.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.