Corporate Design for Regulability: A Principal-Agent-Supervisor Model

Corporate Design for Regulability A Principal-Agent-Supervisor Model

investigating the feasibility of a proposed model for geometric design of deployable arch structures

deployable scissor type structures are composed of the so-called scissor-like elements (sles), which are connected to each other at an intermediate point through a pivotal connection and allow them to be folded into a compact bundle for storage or transport. several sles are connected to each other in order to form units with regular polygonal plan views. the sides and radii of the polygons are...

Collusion and Renegotiation in Principal-Supervisor-Agent Models∗

We aim at examining the interactions between collusion and renegotiation in a principal-supervisor-agent framework, in which the supervisor and agent can collude while the principal can subsequently renegotiate. Despite common sense and the findings in the literature that collusion and renegotiation are usually costly when considered separately, we find that they play a weakly positive role whe...

optimal design of securitization in a principal-agent relationship based on bayesian inference for moral hazard

in the securitization process, by selling the mortgage loans to risk-lover investors, originator can allocate the mortgage loans risk to them. in this case, originator may not have an incentive to screen out borrowers, resulting in the moral hazard problem. this paper, within a principal-agent framework, analyzes this agency problem. investor, to reduce asymmetric information, uses compensation...

Imprecise Beliefs in a Principal Agent Model∗

This paper presents a principal-agent model where the agent has multiple, or imprecise, beliefs. We model this situation formally by assuming the agent’s preferences are incomplete. One can interpret this multiplicity as limited knowledge of the surrounding environment. In this setting, incentives need to be robust to the agent’s beliefs. We study whether robustness implies simplicity. Under mi...