Contract Theory
Despite the vast research literature on topics relating to contract theory, only a few of the field's core ideas are covered in microeconomics textbooks. This long-awaited book fills the need for a comprehensive textbook on contract theory suitable for use at the graduate and advanced undergraduate levels. It covers the areas of agency theory, information economics, and organization theory, highlighting common themes and methodologies and presenting the main ideas in an accessible way. It...
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A comprehensive introduction to contract theory, emphasizing common themes and methodologies as well as applications in key areas.
1Introduction1Pt. IStatic bilateral contracting452Hidden information, screening473Hidden information, signaling994Hidden action, moral hazard1295Disclosure of private certifiable information1716Multidimensional incentive problems199Pt. IIStatic multilateral contracting2377Multilateral asymmetric information : bilateral trading and auctions2398Multiagent moral hazard and collusion297Pt. IIIRepeated bilateral contracting3659Dynamic adverse selection36710Dynamic moral hazard419Pt. IVIncomplete contracts48711Incomplete contracts and institution design48912Foundations of contracting with unverifiable information55313Markets and contracts60114Exercises647
