A Note on Common Agency Models of Moral Hazard
نویسندگان
چکیده
منابع مشابه
Competitive agency with moral hazard.∗
Principals seek to enter a productive relationship with agents by posting general incentive contracts. A contract is exclusive and must solve both the ex post moral hazard and the ex ante competitive search problem (participation). Menus of contracts do not help hence (single) contract posting is optimal. Principal competition restores some bargaining power with the agents, to whom principals m...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2006
ISSN: 1556-5068
DOI: 10.2139/ssrn.954083