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Adverse Selection in Competitive Search Equilibrium
Guerrieri, Veronica - 2009
contract and search literatures …
Persistent link: https://www.econbiz.de/10012463733
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Incentive Contracts
Lazear, Edward P. - 1986
Persistent link: https://www.econbiz.de/10012477157
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A Comparison of Tournaments and Contracts
Green, Jerry R. - 1982
Tournaments, reward structures based on rank order, are compared with individual contracts in a model with one risk-neutral principal and many risk-averse agents. Each agents' output is a stochastic function of his effort level plus an additive shock term that is common to all the agents. The...
Persistent link: https://www.econbiz.de/10012478271
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Venture Capital Contracts
Ewens, Michael - 2019
We estimate the impact of venture capital (VC) contract terms on startup outcomes and the split of value between the … power to receive more investor-friendly terms compared to the contract that maximizes startup values. Better VCs still … certain contract terms benefits entrepreneurs and enables low-quality entrepreneurs to finance their startups more quickly …
Persistent link: https://www.econbiz.de/10012480061
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Inventor Moral Hazard in University Licensing : The Role of Contracts
Dechenaux, Emmanuel - 2008
We examine commonly observed forms of payment, such as milestones, royalties, or consulting contracts as ways of engaging inventors in the development of licensed inventions. Our theoretical model shows that when milestones are feasible, royalties are not optimal unless the licensing firm is...
Persistent link: https://www.econbiz.de/10012464422
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Contract Renegotiation in Agency Problems
Edlin, Aaron S. - 1997
procedures. A noisy signal, however, means that the optimal contract will involve terms that courts might view as punitive and so …
Persistent link: https://www.econbiz.de/10012472728
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Short-Term Contracts as a Monitoring Device
Rey, Patrick - 1993
This paper focuses on two separate problems. The first is that frequently, the most profitable use of funds involves long-term investments, which militiates for long-term debt contracts. The second problem is to monitor the investor's use of funds, as exemplified by the U.S. S&L saga, and we...
Persistent link: https://www.econbiz.de/10012474431
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Causes of the Korean Financial Crisis : Lessons for Policy
Hahm, Joon-Ho - 2000
This paper uses an asymmetric information framework to understand the causes of the recent financial crisis in Korea. It shows that the Korean data is consistent with this explanation of the crisis. It then draws on this analysis to discuss several lessons that can help guide Korean policymakers...
Persistent link: https://www.econbiz.de/10012471293
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The Anatomy of Health Insurance
Cutler, David M. - 1999
This article describes the anatomy of health insurance. It begins by considering the optimal design of health insurance policies. Such policies must make tradeoffs appropriately between risk sharing on the one hand and agency problems such as moral hazard (the incentive of people to seek more...
Persistent link: https://www.econbiz.de/10012471611
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Selection Effects in the Market for Individual Annuities : New Evidence from the United Kingdom
Finkelstein, Amy - 1999
This paper presents new evidence on the importance of adverse selection in individual annuity markets. It focuses on the individual annuity market in the United Kingdom, which provides an excellent empirical setting for studying selection effects. In addition to a voluntary annuity market, the...
Persistent link: https://www.econbiz.de/10012471619