Search Results - subject:"first order approach" - EconBiz

Hidden Insurance in a Moral Hazard Economy

Bertola, Giuseppe; Koeniger, Winfried - 2013

We consider an economy where individuals privately choose effort and trade competitively priced securities that pay off with effort-determined probability. We show that if insurance against a negative shock is sufficiently incomplete, then standard functional form restrictions ensure that...

Persistent link: https://www.econbiz.de/10010329137

Hidden insurance in a moral hazard economy

Bertola, Giuseppe; Koeniger, Winfried - Center for Financial Studies - 2013

We consider an economy where individuals privately choose effort and trade competitively priced securities that pay off with effort-determined probability. We show that if insurance against a negative shock is sufficiently incomplete, then standard functional formrestrictions ensure that...

Persistent link: https://www.econbiz.de/10010958729

Hidden Insurance in a Moral Hazard Economy

Bertola, Giuseppe; Koeniger, Winfried - Institute for the Study of Labor (IZA) - 2013

We consider an economy where individuals privately choose effort and trade competitively priced securities that pay off with effort-determined probability. We show that if insurance against a negative shock is sufficiently incomplete, then standard functional form restrictions ensure that...

Persistent link: https://www.econbiz.de/10010722701

Can CDFC and MLRP Conditions Be Both Satisfied for a Given Distribution?

Loisel, Patrice - In: Czech Economic Review 7 (2013) 3, pp. 135-145

In principal-agent problem, the first-order approach is frequently used. To insure the validity of the approach the …

Persistent link: https://www.econbiz.de/10010712647

Hidden insurance in a moral hazard economy

Bertola, Giuseppe; Koeniger, Winfried - 2013

We consider an economy where individuals privately choose effort and trade competitively priced securities that pay off with effort-determined probability. We show that if insurance against a negative shock is sufficiently incomplete, then standard functional form restrictions ensure that...

Persistent link: https://www.econbiz.de/10010225898

Concavity-preserving integration and its application in principal-agent problems

Xie, Jia - In: Annals of economics and finance 19 (2018) 2, pp. 585-590

Persistent link: https://www.econbiz.de/10012111033

A unifying approach to incentive compatibility in moral hazard problems

Kirkegaard, René - In: Theoretical economics : TE ; journal of the Econometric … 12 (2017) 1, pp. 25-51

Persistent link: https://www.econbiz.de/10011645944

Moral hazard and the spanning condition without the first-order approach

Kirkegaard, René - In: Games and economic behavior 102 (2017), pp. 373-387

Persistent link: https://www.econbiz.de/10011792167

Applying perturbation analysis to dynamic optimal tax problems

Brendon, Charles - Department of Economics, Oxford University - 2011

income tax problem in the spirit of Mirrlees (1971), under the assumption that a 'first-order' approach to incentive …

Persistent link: https://www.econbiz.de/10009364586

A Note on Convex Transformations and the First Order Approach

Benassi, Corrado - Rimini Centre for Economic Analysis (RCEA) - 2011

The first order approach to solving the standard one-dimensional principal-agent model is conditional upon the relevant …

Persistent link: https://www.econbiz.de/10008788392

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