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that one party is risk neutral while the other is risk averse. This paper describes a real-world contract that is widely … used - the movie exhibition contract - and argues that asymmetric information is not the main feature of the environment …
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exponential utility and cost of effort, each separating renegotiation-proof contract is characterized by a single sensitivity … parameter, which determines how the agent's promised utility varies with reported cash flows. The optimal contract among those …
Persistent link: https://www.econbiz.de/10010332130
exponential utility and cost of effort, each separating renegotiation-proof contract is characterized by a single sensitivity … parameter, which determines how the agent's promised utility varies with reported cash flows. The optimal contract among those …
Persistent link: https://www.econbiz.de/10010282880
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This work proposes to rely on the capital gains tax legislation to introduce transfers in merger control. Transfers are never used in merger regulation, however they can represent a relevant device to extract information on synergies. The implicit transfer collected thanks to the capital gains...
Persistent link: https://www.econbiz.de/10005523796
exponential utility and cost of effort, each separating renegotiation-proof contract is characterized by a single “sensitivity …" parameter, which determines how the agent's promised utility varies with reported cash flows. The optimal contract among those …
Persistent link: https://www.econbiz.de/10008804603
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