Events
Week of Events
Occasional Seminars The Common Core of Legal Systems and the Legal Hegemony of the United States
Occasional Seminars The Common Core of Legal Systems and the Legal Hegemony of the United States
A discussion between Franz Werro, Professor of Law, Fribourg and Georgetown, Faculty Member IUC, Director CTLS, Editor in Chief American J. Comparative Law. Ugo Mattei, Professor of Law, Turin and U.C. Hastings, Academic Coordinator IUC, General Editor of The Common Core of European Private Law Project, Fellow of Collegio Carlo Alberto Chaired byGianmaria Ajani,…
Occasional Seminars Avidit Acharya (Stanford University)
Occasional Seminars Avidit Acharya (Stanford University)
"Improving the Relationship: A Principal-Agent Model of Progressive Learning and Path Dependence" Abstract We study a dynamic principal-agent relationship with adverse selection and limited commitment. We show that when the relationship is subject to time-varying productivity shocks, the principal may be able to improve her value over time by gradually learning the agent's private information.…