Farukh, Razi; Kerkhof, Anna; Loebbing, Jonas - 2020
experts (the agents) care both about their income and the utility of consumers (the principals). Experts' preferences over … income and their consumers' utility are convex, such that experts care less for consumers when their financial situation is … partially overcomes this inefficiency and Pareto-improves upon the market outcome. If market entry of experts is endogenous …