The Theory of Optimal Delegation With an Application to Tariff Caps
研究了委托问题的一般形式，给出了区间分配最优的充要条件，并应用于贸易协定中关税上限的设计，适用于有私人信息的政府间谈判。
We consider a general representation of the delegation problem, with and without money burning, and provide sufficient and necessary conditions under which an interval allocation is optimal. We also apply our results to the theory of trade agreements among privately informed governments. For both perfect and monopolistic competition settings, we provide conditions under which tariff caps are optimal. [PUBLICATION ABSTRACT]