This paper analyses problems within the asymmetric information models (principal agent models) where we replace standard assumption of maximisation of expected income by maximisation of probability of economic survival. This paper concentrates on two basic models - adverse selection model and...

This article shows that the altruism of the donator could have different forms. The specific form of his optimisation criterion significantly influences his decision making concerning the allocation of his resources among recipients. Moreover, even within one chosen criterion we could report...

The paper shows that the donator’s altruism could have more forms. The particular form of his criterion influences significantly his decision about allocation of donations between recipients of the donation. Moreover, even under one criterion we could mention sudden change in strategy of the...

The generalization of microeconomics (maximization of probability of agent's survival) enabled model description of economic rationality even in the fields, where profit maximization is not suitable, like redistribution, non-profit sector, both positive and negative externalities, centrally...