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In this paper, we examine the effect of increases in health care costs and general inflation on optimal insurance policies and waste in a model of imperfect information with costly auditing. We show that in such a setting, individuals will buy more than full insurance. Moreover, as the cost of...
Persistent link: https://www.econbiz.de/10005101018
some important facets as cooperation, coordination, planning and communication. " Le thème des systèmes multiagents (SMA … coopération, la coordination, la planification et la communication. …
Persistent link: https://www.econbiz.de/10005627160
generalized solutions by implementing laboratory bargaining experiments Lors de la localisation d'équipements générateurs de …
Persistent link: https://www.econbiz.de/10005627176
This paper looks at the dynamic properties of insurance contracts when insurers have better technology at preventing … catastrophic losses than the insured. The prevention technology is owned by the insurers and is permanent. If long-term contracts … are not possible, the insured is faced with a commitment problem since he may want to renegotiate the contract or change …
Persistent link: https://www.econbiz.de/10005100695
result, the complete contract may become too complex (or too costly) to devise and manage directly. My contention in this …
Persistent link: https://www.econbiz.de/10005100944
principal wants to design a contract that uses this correlated information. We find that the fully specified contract may be too …
Persistent link: https://www.econbiz.de/10005101028
This paper addresses the question of whether R&D should be carried out by an independent research unit or be produced in-house by the firm marketing the innovation. We define two organizational structures. In an integrated structure, the firm that markets the innovation also carries out and...
Persistent link: https://www.econbiz.de/10005101033
This paper characterizes the optimal insurance contract in an environment where an informed agent can misrepresent the …), the optimal contract is such that higher losses are over-compensated while lower losses are on average under …-compensated. The amount by which higher losses are over-compensated decreases as the loss increases. The optimal contract may then be …
Persistent link: https://www.econbiz.de/10005101113
each participant could normally look forward to when the relationship was set up. The win-win character that contracts and … opportunism, remains the principle underlying all of contract law and company law." Ce texte explore l'emploi de l …
Persistent link: https://www.econbiz.de/10009395941
reasonably well-developed economic literature. Reciprocal gain, the founding concept of contract and of extensions such as the … of contract law. Yet human nature being what it is, individuals may be tempted by opportunistic acts and their potential …
Persistent link: https://www.econbiz.de/10009395942