This paper extends and applies principal-agent theory to the performance of donor projects. There is variation in the degree of divergence between the interests of the donor (the principal) and the recipient government (the agent). Further, the effort expended on observation of the agent is a...

This paper investigates the impact of chronic diseases on insurance contracts with adverse selection. We use a bi-dimensional utility function (wealth and health status). We prove that the introduction of chronic diseases influences the equilibrium of insurance market. We characterize conditions...

This article is devoted to adverse selection problems in which individual private information is a whole utility function and cannot be reduced to some finite-dimensional parameter. In this case, incentive-compatibility conditions can be conveniently expressed using some abstract convexity...

Les départements d'Outre-mer (Dom) sont plus exposés aux risques naturels que la France métropolitaine. Pourtant, seuls 52 % des ménages des Dom ont souscrit pour leur résidence principale une assurance habitation, qui inclut obligatoirement la couverture des catastrophes naturelles, alors...

The AFEP-MEDEF corporate governance code amended in 2013 introduces the say on pay principle, which grants shareholders the right to vote on executive remuneration at annual general meetings. This paper aims at reviewing the studies undertaken in countries that have established this principle...