Optimal procurement and investment in new technologies under uncertainty
In: Journal of economic dynamics & control, Band 147, S. 104605
ISSN: 0165-1889
9 Ergebnisse
Sortierung:
In: Journal of economic dynamics & control, Band 147, S. 104605
ISSN: 0165-1889
In: NHH Dept. of Economics Discussion Paper No. 08/2023
SSRN
In: NHH Dept. of Business and Management Science Discussion Paper 2023/14
SSRN
In: Journal of economics and business, Band 122, S. 106068
ISSN: 0148-6195
In: DIW Berlin Discussion Paper No. 1777
SSRN
Working paper
In: Working Paper of the Max Planck Institute for Tax Law and Public Finance No. 2018-09
SSRN
In: American economic review, Band 106, Heft 11, S. 3238-3274
ISSN: 1944-7981
We characterize the optimal dynamic contract for a long-term basic service when an uncertain add-on is required later on. Introducing firm risk aversion has two impacts. Profits for the basic service can be backloaded to induce cheaper information revelation for this service: an Income Effect which reduces output distortions. The firm must also bear some risk to induce information revelation for the add-on. This Risk Effect reduces the level of the add-on but hardens information revelation for the basic service. The interaction between these effects has important implications for the dynamics of distortions, contract renegotiation, and the value of incomplete contracts. (JEL D47, D81, D86)
In: JEDC-D-22-00201
SSRN
In: NHH Dept. of Business and Management Science Discussion Paper No. 2023/24
SSRN