This paper considers the general equilibrium and welfare effects of a linear progressive income tax with entrepreneurship and moral hazard. A competitive intermediation sector diversifies risk associated with entrepreneurial activity, but full risk consolidation is prevented by moral hazard. Since effort is not observable, risk bearing of entrepreneurs is required for incentive reasons. The ext...

Under certain conditions the optimal insurance policy will offer full coverage above a deductible, as Arrow and others have shown long time ago. Interestingly, the same design of insurance policies applies in case of a single loss and ex-ante moral hazard. However, many insurance policies provide coverage against a variety of losses and the possibilities for the insured to affect the probabilit...

commissioned in 1929 by the government of Southern Rhodesia (present-day Zimbabwe) to research the language varieties spoken by Zimbabwean natives. His work, which was premised on the quest for standardised, monolithic and homogeneous linguistic categories, marked the genesis of language politics in Zimbabwe. The Dokean legacy left an indelible mark on the terrain of language treatment and lang...

This paper seeks to answer two questions about executive compensation. How important is hidden information relative to moral hazard, and how biased are empirical measures of moral hazard in econometric models that do not account for hidden information? An analytical stage of this paper exploit restrictions from the theory of optimal contracting to identify hidden information and di¤erentiate it...

one of the most significant issues in meta–ethics is moral realism, which has been criticized so much. one of the main criticisms of it has been offered by j.l. mackie. he believes that moral properties depend upon our feelings and emotions and they don't refer to reality; so, they have no causal explanation and cannot give us any knowledge. therefore any judgment about moral properties is...

moral hazards are the result of an expansive range of factors mostly originating in the patients’ roles. the objective of the present study was to investigate patient incentives for moral hazards using the experiences of experts of basic iranian insurance organizations. this was a qualitative research. data were collected through semi-structured interviews. the study population included all exp...