Incentive-Compatible Contracts for the Sale of Information: Table 1
研究知情金融机构如何设计合约，使其在管理客户基金时愿意为基金利益交易，同时限制交易激进程度以减少信息泄露，从而获得更高总交易利润。
An informed financial institution can trade on private information and also sell it to clients through a managed fund. To provide an incentive for the informed agent to trade in the interest of her client, the optimal contract requires that she be compensated as an increasing function of the profits of the fund. The optimal contract is also designed to limit the aggressiveness of the sum of the fund's trade and the proprietary trade. This reduces information revelation and thus leads to greater overall trading profits than if the informed agent only conducted proprietary trades.