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Adverse selection and moral hazard in anonymous markets

Klein, Tobias J.; Lambertz, Christian; Stahl, Konrad - 2013

Theorie abgeleiteten Hypothesen. Internetmärkte bieten dafür eine nützliche Umgebung. Aufgrund der offensichtlichen …

Persistent link: https://www.econbiz.de/10009784129

Optimal delegated search with adverse selection and moral hazard

Ulbricht, Robert - 2014

The paper studies a model of delegated search. The distribution of search revenues is unknown to the principal and has to be elicited from the agent in order to design the optimal search policy. At the same time, the search process is unobservable, requiring search to be self-enforcing. The two...

Persistent link: https://www.econbiz.de/10010358239

Optimal delegated search with adverse selection and moral hazard

Ulbricht, Robert - In: Theoretical economics : TE ; an open access journal in … 11 (2016) 1, pp. 253-278

Persistent link: https://www.econbiz.de/10011672191

Bonus culture : competitive pay, screening, and multitasking

Bénabou, Roland; Tirole, Jean - 2013

This paper analyzes the impact of labor market competition and skill-biased technical change on the structure of compensation. The model combines multitasking and screening, embedded into a Hotelling-like framework. Competition for the most talented workers leads to an escalating reliance on...

Persistent link: https://www.econbiz.de/10009729417

Bankruptcy : Is it Enough to Forgive or Must We Also Forget?

Elul, Ronel - 2012

In many countries, lenders are restricted in their access to information about borrowers' past defaults. The authors study this provision in a model of repeated borrowing and lending with moral hazard and adverse selection. They analyze its effects on borrowers' incentives and access to credit,...

Persistent link: https://www.econbiz.de/10013114975

Bonus Culture : Competitive Pay, Screening, and Multitasking

Bénabou, Roland - 2013

Persistent link: https://www.econbiz.de/10013083378

Bonus Culture : Competitive Pay, Screening, and Multitasking

Bénabou, Roland - 2014

This paper analyzes the impact of labor market competition on the structure of compensation. The model combines multitasking and screening, embedded into a Hotelling-like framework. Competition for the most talented workers leads to an escalating reliance on performance pay and other...

Persistent link: https://www.econbiz.de/10013051714

Contracting with Moral Hazard, Adverse Selection and Risk Neutrality : When Does One Size Fit All?

Balmaceda, Felipe - 2018

This paper studies a principal-agent model in which the principal and agent are risk-neutral, there are two actions, adverse selection, moral hazard and limited liability. When the two actions are subject to moral hazard, there is no distortion at the top, the optimal action profile is downward...

Persistent link: https://www.econbiz.de/10012927852

Bankruptcy : Is it Enough to Forgive or Must We Also Forget?

Elul, Ronel - 2019

In many countries, lenders are not permitted to use information about past defaults after a specified period of time has elapsed. We model this provision and determine conditions under which it is optimal. We develop a model in which entrepreneurs must repeatedly seek external funds to finance a...

Persistent link: https://www.econbiz.de/10012706150

What is Wrong with Moral Hazard and Adverse Selection Problems in the Conventional Economic Theory

Lemennicier, Bertrand Claude - 2014

The purpose of this paper is to challenge the conventional theory of moral hazard and adverse selection. Moral hazard … and adverse selection problems in contemporary economic theory are plagued with four major flaws: 1) the alleged … Akerlof and Rothschild and Stiglitz's theory and their followers based on additive or non additive expected utility associated …

Persistent link: https://www.econbiz.de/10014146788