Abstract :
It has been shown by Maskin and Tirole ([Maskin, E., Tirole, J., 1990. The principal–agent relationship with an informed principal: the case of private values. Econometrica 58(2), 379–409], proposition 11) that with quasi-linear preferences and private values, an informed principal neither gains nor loses if her private information is revealed before contracting takes place. The note shows that this result may not hold when the agent faces countervailing incentives.
