Why does it matter that beliefs and valuations be correctly represented?
成果类型：
Article
署名作者：
Grant, S; Karni, E
署名单位：
Johns Hopkins University; Rice University
刊物名称：
INTERNATIONAL ECONOMIC REVIEW
ISSN/ISSBN：
0020-6598
DOI：
10.1111/j.1468-2354.2005.00351.x
发表日期：
2005
页码：
917-934
关键词：
摘要：
This article contains an analysis of a simple principal-agent problem illustrating possible problems that may arise when the prinicpal ascribes to the agent subjective probabilities and utilities that are implied by the subjective expected utility model but do not represent the agent's beliefs and valuations. In particular, it is possible that an incentive contract designed by the principal induces the agent to choose an action that is not in the principal's best interest.
来源URL：