Incomplete Contracts and Signalling
构建了一个委托代理模型，证明在交易成本存在时，合同的不完全性可以作为委托人类型的信号，且信息不对称会导致比完全信息下更多的不完全性。
This article Presents a principal-agent model in which asymmetric information leads to contractual incompleteness. I show that in the presence of transactions costs, incompleteness may act as a signal of the principal's type. Two types of transactions costs are considered: those incurred ex ante (drafting costs) and those incurred ex post (enforcement or verification costs). I prove that in the presence of either of these costs, asymmetric information leads to more contractual incompleteness than full information does.