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Optimal contracting with private military and security companies

Fahn, Matthias; Hadjer, Tahmina - In: European Journal of Political Economy 37 (2015) C, pp. 220-240

Private military and security companies (PMSCs) have been gaining increasing media and scholarly attention particularly due to their indispensable role in the wars in Afghanistan 2001 and Iraq 2003. Nevertheless, theoretical insights into the agency problems inherent when hiring PMSCs and how to...

Persistent link: https://www.econbiz.de/10011209606

How Blackwater Takes Uncle Sam for a Ride - and Why He Likes It

Fahn, Matthias; Hadjer, Tahmina Sadat - Volkswirtschaftliche Fakultät, … - 2014

Private Military and Security Companies (PMSCs) have been gaining increasing media and scholarly attention particularly due to their indispensable role in the wars in Afghanistan 2001 and Iraq 2003. Nevertheless, theoretical insights into the agency problems inherent when hiring PMSCs and how to...

Persistent link: https://www.econbiz.de/10011210875

Legitimacy and commitment in the military

Wyatt, Thomas C. (contributor) - 1990

Persistent link: https://www.econbiz.de/10004116323

Optimal regional conjunctive water management

Noel, Jay E. - In: American journal of agricultural economics 62 (1980) 3, pp. 489-498

Persistent link: https://www.econbiz.de/10002578887

Accounting Recognition, Moral Hazard, and Communication

Liang, Pierre Jinghong - 2000

Two complementary sources of information are studied in a multiperiod agency model. One is an accounting source which partially but credibly conveys the agent’s private information through accounting recognition. The other is an unverified communication by the agent (i.e., a self-report). In a...

Persistent link: https://www.econbiz.de/10009441137

Agency theory: choice-based foundations of the parametrized distribution formulation

Karni, Edi - In: Economic Theory 36 (2008) 3, pp. 337-351

Persistent link: https://www.econbiz.de/10005370740

Agency Revisited

Casadesus-Masanell, Casadesus-Masanell Ramón; Spulber, … - Fundación BBVA - 2007

The working paper presents a comprehensive overview of the principal-agent model that emphasizes the role of trust in the agency relationship. The analysis demonstrates that the legal remedy for breach of duty can result in a full-information efficient outcome eliminating both moral hazard and...

Persistent link: https://www.econbiz.de/10008685255

Combinatorial agency

Babaioff, Moshe; Feldman, Michal; Nisan, Noam; Winter, Eyal - In: Journal of Economic Theory 147 (2012) 3, pp. 999-1034

We study a combinatorial variant of the classical principal-agent model. In our setting a principal wishes to incentivize a team of strategic agents to exert costly effort on his behalf. Agentsʼ actions are hidden and the principal observes only the outcome of the team, which depends...

Persistent link: https://www.econbiz.de/10011042925

Review of Guillaume Plantin and Jean-Charles Rochet, When Insurers Go Bust: An Economic Analysis of the Role and Design of Prudential Regulation

Marshall, John - In: International Journal of the Economics of Business 16 (2009) 1, pp. 139-146

When Insurers Go Bust applies agency theory and the theories of adverse selection and moral hazard as the motivation …, and transparency. In consequence, ruin theory does not have an operational role. Theory is applied in familiar ways that … inappropriate emphasis on the general theory of excessive risk-taking, which tends to deflect attention from the specific nature of …

Persistent link: https://www.econbiz.de/10005268655

Is Leverage Effective in Increasing Performance Under Managerial Moral Hazard?

Calcagno, R. - Tilburg University, Center for Economic Research - 2000

We consider a model in which the principal-agent relation between inside shareholders and the management affects the firm value.We study the effect of financing the project with risky debt in changing the incentive for a risk-neutral shareholder (the principal) to implement the project-value...

Persistent link: https://www.econbiz.de/10011091167

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