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Persistent link: https://www.econbiz.de/10005328708
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Persistent link: https://www.econbiz.de/10005328789
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Persistent link: https://www.econbiz.de/10005129688
We propose a multi-agents adverse selection version of Townsend's (1979) model of costly audits where the agents' types are correlated. Audits are used because agents have a limited ability to bear risk so that the Full Surplus Extraction (FSE) scheme a la Cremer and McLean (1985,1988) and...
Persistent link: https://www.econbiz.de/10005129702
No abstract.
Persistent link: https://www.econbiz.de/10005129709
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Persistent link: https://www.econbiz.de/10005129754