A dual characterization of incentive efficiency.
We show that incentive efficient allocations in economies with adverse selection and moral hazard problems can be determined as optimal solutions to a linear programming problem and we use duality theory to obtain a complete characterization of the optima. Our dual analysis identifies welfare effect...
| Publicado en: | Journal of Economic Theory Vol. 112; no. 1; pp. 1 - 35 |
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| Formato: | Artículo |
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Academic Press Inc.
September 2003
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| Acceso en línea: | Ver este registro en EBSCOhost |