Date of Original Version

3-2002

Type

Article

Abstract or Description

The repeated agency model has been widely applied to a number of interesting and important problems in economics, though in many instances, the fact that the standard model generates transient dynamics limits the usefulness of the results obtained from the model for the simple reason that purely transient dynamic phenomena are empirically irrelevant since they cannot be systematically observed and studied.

DOI

10.1016/j.jet.2004.02.008

Comments

GSIA working paper 2002-E5

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Published In

Journal of Economic Theory, 120, 2, 239-256.