Search Results - subject:"likelihood ratio distribution"

Limited liability, the first-order approach, and the ranking of information systems in agencies

Larmande, Francois - In: Economics Letters 118 (2013) 2, pp. 314-317

Kim (1995) provides a sufficient condition to rank information systems when the first-order approach is valid. The basis for the condition is the comparison of the likelihood ratio distributions. I show, first, that Kim’s criterion is not necessary when the limited liability of the agent...

Persistent link: https://www.econbiz.de/10010608093

Information in tournaments under limited liability

Budde, Jörg - 2005

likelihood ratio distribution functions differ by a mean preserving spread. The latter result is applied to questions of contest …

Persistent link: https://www.econbiz.de/10010263144

Information in tournaments under limited liability

Budde, Jörg - University of Bonn, Germany - 2005

likelihood ratio distribution functions differ by a mean preserving spread. The latter result is applied to questions of contest …

Persistent link: https://www.econbiz.de/10004989629

Auditing policies and information

Sinclair-Desgagné, Bernard; Fagart, Marie-Cécile - Econometric Society - 2004

cumulated frequencies of audits are always larger under B than under A, we show, however, that the likelihood ratio distribution …

Persistent link: https://www.econbiz.de/10005699658

Auditing Policies and Information Systems in Principal-Agent Analysis

Fagart, Marie-Cécile; Sinclair-Desgagné, Bernard - Centre Interuniversitaire de Recherche en Analyse des … - 2002

This paper considers the information systems induced by auditing policies in a principal-agent model with moral hazard. We point out that two such information systems A and B are seldom comparable using the customary mean-preserving spread relation between their respective likelihood ratio...

Persistent link: https://www.econbiz.de/10005100759

Auditing Policies and Information Systems in Principal-agent Analysis

Fagart, Marie-Cécile; Sinclair-Desgagné, Bernard - Institut d'Économie Appliquée, HEC Montréal (École … - 2002

This paper considers the information systems induced by auditing policies in a principal- agent model with moral hazard. We point out that two such information systems A and B are seldom comparable using the customary mean-preserving spread relation between their respective likelihood ratio...

Persistent link: https://www.econbiz.de/10005677345