International capital markets do not work perfectly. But are the imperfections severe enough that they need to be taken into account when modeling international capital flows? And if so, which of the many different possible forms of financial market imperfection best describe the data on...

We introduce learning based on genetic algorithms in a principal-agent model of optimal contracting under moral hazard. Applications corresponding to this setting abound in finance (credit under moral hazard), public finance (optimal taxation, information-constrained insurance), development...