Pausch, Thilo - Institut für Volkswirschaftlehre, Fakultät für … - 2003
This paper analyzes optimal incentive compatible debt contracts when lenders are risk averse. The decisive factor in …
This paper analyzes optimal incentive compatible debt contracts when lenders
are risk averse. The decisive factor in this … more general than
the ones from the industrial organization approach.
Keywords: debt contracts, risk aversion, costly state …