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A signaling approach to soft budgets |
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| Authors: | Salem Šaljanin |
| Institution: | |
| Abstract: | A new explanation for soft budget constraints is given. Projects of an agent are often the more profitable, the more confident the agent is in the principal's competence and/or supports. Principals can signal support and/or competence through a soft budget constraint. |
| Keywords: | D02 E42 G28 |
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