Artikel
Optimal contracting under adverse selection: The implications of mentalizing
We study a model of adverse selection, hard and soft information, and mentalizing ability-the human capacity to represent others' intentions, knowledge, and beliefs. By allowing for a continuous range of different information types, as well as for different means of acquiring information, we develop a model that captures how principals differentially obtain information on agents. We show that principals that combine conventional data collection techniques with mentalizing benefit from a synergistic effect that impacts both the amount of information that is accessed and the overall cost of that information. This strategy affects the properties of the optimal contract, which grows closer to the first best. This research provides insights into the implications of mentalizing for agency theory.
- Sprache
-
Englisch
- Erschienen in
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Journal: Contemporary Economics ; ISSN: 2084-0845 ; Volume: 9 ; Year: 2015 ; Issue: 2 ; Pages: 215-231 ; Warsaw: Vizja Press & IT
- Klassifikation
-
Wirtschaft
Asymmetric and Private Information; Mechanism Design
Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
- Thema
-
Adverse selection
mentalizing
hard information
soft information
contract
- Ereignis
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Geistige Schöpfung
- (wer)
-
Lenells, Jonatan
Stea, Diego
Foss, Nicolai J.
- Ereignis
-
Veröffentlichung
- (wer)
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Vizja Press & IT
- (wo)
-
Warsaw
- (wann)
-
2015
- DOI
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doi:10.5709/ce.1897-9254.168
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
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ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Artikel
Beteiligte
- Lenells, Jonatan
- Stea, Diego
- Foss, Nicolai J.
- Vizja Press & IT
Entstanden
- 2015
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