Dutta, Prajit K.; Radner, Roy - In: Handbook of game theory with economic applications : …, (pp. 869-903). 1994
This chapter discusses moral hazard. The principalagent relationship embodies a special form of moral hazard, which can be called one-sided, but moral hazard can also be many-sided. The paradigmatic model of many-sided moral hazard is the partnership in which there are many agents but no...