Contracting over persistent information
研究委托人仅通过信息披露激励代理人选择其偏好行动的动态问题，发现最优策略是推荐偏好行动并在下一期以信息披露作为奖励，直到该行动对代理人静态最优或代理人完全了解状态。
We consider a dynamic principal‐agent problem, where the sole instrument the principal has to incentivize the agent is the disclosure of information. The principal aims at maximizing the (discounted) number of times the agent chooses the principal's preferred action. We show that there exists an optimal policy, where the principal recommends its most preferred action and discloses information as a reward in the next period, until either this action becomes statically optimal for the agent or the agent perfectly learns the state.