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BGSE Workshop: Gregorio Curello (University of Bonn)

"Screening for breakthroughs"

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  • BGSE Workshop
When Apr 21, 2021
from 12:00 to 13:00
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We identify a new and pervasive dynamic agency problem: that of incentivising the prompt disclosure of productive information. To study it, we introduce a model in which a technological breakthrough occurs at an uncertain time and is privately observed by an agent, and a principal must incentivise disclosure via her control of the agent's utility. We uncover a striking deadline structure of optimal mechanisms: they have a simple deadline form in an important special case, and a graduated deadline structure in general. We apply our results to the design of unemployment insurance schemes.

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