The form of incentive contracts: agency with moral hazard, risk neutrality, and limited liability.
The analysis obtains a complete characterization of the optimal agency contract with moral hazard, risk neutrality, and limited liability. We introduce a 'critical ratio' that indicates the returns to providing the agent with incentives for effort in each random state. The form of the contract is de...
| Publicado en: | RAND Journal of Economics (Wiley-Blackwell) Vol. 43; no. 2; pp. 215 - 235 |
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| Autores principales: | , |
| Formato: | Artículo |
| Publicado: |
Wiley-Blackwell
Summer2012
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| Materias: | |
| Acceso en línea: | Ver este registro en EBSCOhost |