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Risk aversion, moral hazard, and the principal's loss
Chade, Hector; Serio, Virginia N. Vera de - In: Economic Theory 20 (2002) 3, pp. 637-644
In their seminal paper on the principal-agent model with moral hazard, Grossman and Hart (1983) show that if the agent's utility function is $U(I,a)=-e^{-k(I-a)}$, then the loss to the principal from being unable to observe the agent's action is increasing in the agent's degree of absolute risk...
Persistent link: https://www.econbiz.de/10005596812
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Paying for performance and motivation crowding out
Siciliani, Luigi - In: Economics letters 103 (2009) 2, pp. 68-71
Persistent link: https://www.econbiz.de/10003846711
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Overdeterrence of repeat offenders when penalties for first-time offenders are restricted
Müller, Daniel; Schmitz, Patrick W. - In: Economics letters 129 (2015), pp. 116-120
Persistent link: https://www.econbiz.de/10011422056
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Limited liability, the first-order approach, and the ranking of information systems in agencies
Larmande, Francois - In: Economics letters 118 (2013) 2, pp. 314-317
Persistent link: https://www.econbiz.de/10009708905
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Job design with sequential tasks and outcome externalities revisited
Pi, Jiancai - In: Economics letters 125 (2014) 2, pp. 274-277
Persistent link: https://www.econbiz.de/10010505314
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The hold-up problem, innovations, and limited liability
Schmitz, Patrick W. - In: Economics letters 117 (2012) 3, pp. 841-843
Persistent link: https://www.econbiz.de/10009682589
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Public procurement in times of crisis : the bundling decision reconsidered
Schmitz, Patrick W. - In: Economics letters 121 (2013) 3, pp. 533-536
Persistent link: https://www.econbiz.de/10010393032
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Why costless auditing may reduce social welfare
Feess, Eberhard; Schumacher, Christoph - In: Economics letters 90 (2006) 3, pp. 407-411
Persistent link: https://www.econbiz.de/10003295330
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What can we learn from simulating a standard agency model?
Robe, Michel A. - In: Economics letters 73 (2001) 2, pp. 137-146
Persistent link: https://www.econbiz.de/10001613392
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Self-organizing teams
Kräkel, Matthias - In: Economics letters 159 (2017), pp. 195-197
Persistent link: https://www.econbiz.de/10011903508