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- W2070035324 abstract "A principal and an agent enter into a sequence of agreements. The principal faces an interim participation constraint at each date, but can commit to the current agreement; in contrast, the agent has the opportunity to renege on the current agreement. We study the time structure of agreement sequences that satisfy participation and no-deviation constraints and are (constrained) efficient. We show that every such sequence must, after a finite number of dates, exhibit a continuation that maximizes the agent's payoff over all such efficient, self-enforcing sequences. Additional results are provided for situations with transferable payoffs." @default.
- W2070035324 created "2016-06-24" @default.
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- W2070035324 date "2002-03-01" @default.
- W2070035324 modified "2023-10-01" @default.
- W2070035324 title "The Time Structure of Self-Enforcing Agreements" @default.
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- W2070035324 doi "https://doi.org/10.1111/1468-0262.00295" @default.
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