A Theory of Rule Development
This article develops a model with endogenously coarse rules. A principal hires an agent to take an action. The principal knows the optimal state-contingent action, but cannot communicate it perfectly due to communication constraints. The principal can use previously realized states as examples to d...
| Main Authors: | , |
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| Other Authors: | |
| Format: | Article |
| Language: | English |
| Published: |
Oxford University Press,
2015-04-23T20:11:53Z.
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| Subjects: | |
| Online Access: | Get fulltext |