Relational delegation
分析了一个委托人具有部分承诺能力的廉价谈话博弈,刻画了最优决策形式何时为阈值授权或集权,并发现外包仅在委托人承诺能力足够弱时最优。
We analyze a cheap talk game with partial commitment by the principal. We first treat the principal's commitment power as exogenous and then endogenize it in an infinitely repeated game. We characterize optimal decision making for any commitment power and show when it takes the form of threshold delegation—in which case the agent can make any decision below a threshold—and centralization—in which case the agent has no discretion. For small biases, threshold delegation is optimal for any smooth distribution. Outsourcing can only be optimal if the principal's commitment power is sufficiently small.