COMMENT ON "COMMITMENT VS. FLEXIBILITY"
COMMENT ON "COMMITMENT VS. FLEXIBILITY"
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Publisher
Oxford, UK: Econometric Society
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Language
English
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Publisher
Oxford, UK: Econometric Society
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Contents
This comment corrects two results in the 2006 Econometrica paper by Amador, Werning, and Angeletos (AWA), that features a model in which individuals face a trade-off between flexibility and commitment. First, in contrast to Proposition 1 in AWA, we show that money-burning can be part of the ex ante optimal contract when there are two states. Second...
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Full title
COMMENT ON "COMMITMENT VS. FLEXIBILITY"
Authors, Artists and Contributors
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TN_cdi_proquest_miscellaneous_1448372082
Permalink
https://devfeature-collection.sl.nsw.gov.au/record/TN_cdi_proquest_miscellaneous_1448372082
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ISSN
0012-9682
E-ISSN
1468-0262
DOI
10.3982/ECTA10739
