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Delegating budgets when agents care about autonomy
Kuhn, Michael (contributor) - 2004 - [Elektronische Ressource]
Persistent link: https://www.econbiz.de/10002050615
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The revelation and delegation principles in common agency games
Martimort, David; Stole, Lars A. - 2001
In the context of common agency adverse-selection games weillustrate that the revelation principle cannot be applied to studyequilibria of the multi-principal games. We then demonstrate thatan extension of the taxation principle – what we term the“delegation principle” – can be used to...
Persistent link: https://www.econbiz.de/10011400675
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Decomposable Principal-Agent Problems
Nöldeke, Georg; Samuelson, Larry - 2004
This paper investigates conditions under which the adverse selection principal-agent problem can be decomposed into a collection of pointwise maximization problems. The analysis uses an extension of the type assignment approach to optimal nonuniform pricing, pioneered by Goldman, Leland and...
Persistent link: https://www.econbiz.de/10014069601
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Asymmetric information allocation to avoid coordination failure
Moriya, Fumitoshi; Yamashita, Takuro - 2018
Persistent link: https://www.econbiz.de/10013489815
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Delegating Resource Allocation : Multidimensional Information vs. Decisions
Galperti, Simone - 2015
This paper studies the problem of delegating the allocation of resources across multiple categories to an agent who has … cap on the allocation to each category, a generalization of Holmström's (1977) ‘interval controls' to multidimensional … allocation. Such limits are more likely to be optimal when the conflict is weaker and the agent's information is also on …
Persistent link: https://www.econbiz.de/10013028127
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Capital reallocation and adverse selection
Li, Shaojin; Whited, Toni Marion - 2014
We investigate how adverse selection in the used capital market generates procyclical sales of used capital -- capital reallocation. In our model, adverse selection produces a resale discount for used capital. In equilibrium, this endogenous partial irreversibility is more severe in recessions...
Persistent link: https://www.econbiz.de/10010483664
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Strategic Manipulation Induced by Moral Hazard : The 'Aim for Rejection' Problem in Japanese Daycare Allocations
Yokote, Koji - 2019
This paper focuses on a particular type of strategic manipulation observed in Japanese daycare allocations. Some parents intentionally apply to a highly demanded daycare and are rejected, because a certificate indicating that they were rejected is required to extend the parental leave period....
Persistent link: https://www.econbiz.de/10012894532
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Partial Ownership and Strategic Alliances with Reallocation of Corporate Resources
Osano, Hiroshi - 2012
This paper considers the role of equity transfer to strategic alliance partners in mitigating the moral hazard problem that occurs if a participating firm faces some possibility of reallocating a part of the resources devoted to the joint project of the strategic alliance or retreating from the...
Persistent link: https://www.econbiz.de/10013117049
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Information aggregation and adverse selection
Boukouras, Aristotelis; Koufopoulos, Kostas - 2011 - This Version: 07 December 2010, First Version: 24 July 2007
We consider a general economy, where agents have private information about their types. Types can be multi-dimensional and potentially interdependent. We show that, if the interim distribution of types is common knowledge (the exact number of agents for each type is known), then a mechanism...
Persistent link: https://www.econbiz.de/10010345986
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In Short Supply : Efficiency Implications of Rational Attention Allocation
Kalda, Ankit - 2020
This paper examines the role of rational attention allocation in shaping private information acquisition, and its …
Persistent link: https://www.econbiz.de/10012855532