Pal, Debashis (contributor); Bose, Arup (contributor); … - 2008
�ects of a systematic increase in the agent�s operating costs in a standard
agency setting with moral hazard. We identify … moral hazard setting. Second, we emphasize the Pareto gains that increased
ine� ciency can provide. While an action such as … the moral hazard problem in the present setting) can render changes that would other-
wise be universally detrimental (i …