Optimal Monitoring Policies in Agencies
研究委托人如何利用成本高昂的监控技术获取代理人行动信息，发现最优监控政策通常是确定性的且为低尾型，即仅当产出低于某个临界值时才会进一步调查代理人行为。
This article considers a principal-agent problem in which the principal has access to a costly monitoring technology that can be used to acquire additional information about the agent's actions subsequent to observing the agent's output. Although randomized monitoring policies are feasible, we show that in a variety of contexts optimal monitoring policies are deterministic and lower-tailed, that is, there exists some critical level of output such that further investigation of the agent's actions occurs if and only if output falls below this critical level.