منابع مشابه
Technology Transfer with Moral Hazard
This paper develops an incomplete contract model of the licensing relationship that is susceptible to the moral hazard problem. The optimal contractual form of licensing derived in the model generates predictions that seem to be consistent with actual practice. For instance, the introduction of inputs that are not contractible and costly explains the prevalence of royalty contracts in the licen...
متن کاملCapital market equilibrium with moral hazard and flexible technology
Magill, M., Quinzii, M., 2002. Capital market equilibrium with moral hazard. Journal of Mathematical Economics 38, 149–190) showed that, in a stockmarket economy with private information, the moral hazard problem may be resolved provided that a spanning overlap condition is satisfed. This result depends on the assumption that the technology is given by a stochastic production function with a si...
متن کاملMoral Hazard with Counterfeit Signals
November 15, 2011 In many moral hazard problems, an agent may manipulate the information that the principal observes. This type of fraud has attracted widespread attention in executive performance pay manipulation and public medical insurance fraud. However, fraud is possible but conspicuously absent in many other markets. For example, websites may defraud advertisers by inserting fake clicks o...
متن کاملPooling Promises with Moral Hazard ∗
4 In this paper, we extend the framework of Dubey and Geanakoplos (2002) to the case 5 of moral hazard. Risk-averse consumers, who can influence the likelihood of states of 6 nature by undertaking a hidden action, receive insurance by voluntarily participating 7 in a pool of promises of deliveries of future uncertain endowments. In exchange, they 8 gain the right to receive a share of the total...
متن کاملMoral hazard with bounded payments
We study the moral hazard problem with general constraints on how little or much the agent can be paid as a function of output. We provide a characterization and existence result using only very simple methods. In the dual problem of minimizing costs for a given effort level, a constraint that harms the principal will always result in a contract that pays according to the constraint on some ran...
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ژورنال
عنوان ژورنال: International Journal of Industrial Organization
سال: 2001
ISSN: 0167-7187
DOI: 10.1016/s0167-7187(99)00020-x