Performance Evaluation under Adverse Selection and Correlation Ambiguity
Y Huang, N Zhang - Available at SSRN 3755190, 2020 - papers.ssrn.com
We develop a model wherein a risk-neutral but ambiguity-averse principal contracts with a
risk-averse agent who has a risky project. Both the agent and the principal can observe the …
risk-averse agent who has a risky project. Both the agent and the principal can observe the …