تقرير
Optimal Robust Contract Design
| العنوان: | Optimal Robust Contract Design |
|---|---|
| المؤلفون: | Peng, Bo, Tang, Zhihao Gavin |
| سنة النشر: | 2024 |
| المجموعة: | Computer Science |
| مصطلحات موضوعية: | Economics - Theoretical Economics, Computer Science - Computer Science and Game Theory |
| الوصف: | We consider the robust contract design problem when the principal only has limited information about the actions the agent can take. The principal evaluates a contract according to its worst-case performance caused by the uncertain action space. Carroll (AER 2015) showed that a linear contract is optimal among deterministic contracts. Recently, Kambhampati (JET 2023) showed that the principal's payoff can be strictly increased via randomization over linear contracts. In this paper, we characterize the optimal randomized contract, which remains linear and admits a closed form of its cumulative density function. The advantage of randomized contracts over deterministic contracts can be arbitrarily large even when the principal knows only one non-trivial action of the agent. Furthermore, our result generalizes to the model of contracting with teams, by Dai and Toikka (Econometrica 2022). Comment: Full version of EC 2024 paper |
| نوع الوثيقة: | Working Paper |
| URL الوصول: | http://arxiv.org/abs/2406.11528 |
| رقم الأكسشن: | edsarx.2406.11528 |
| قاعدة البيانات: | arXiv |
| الوصف غير متاح. |