conflict of interest is positive but not too high. The value of mediation depends non-monotonically on the degree of conflict …We study the reasons and conditions under which mediation is beneficial when a principal needs information from an … mediator than through the agent himself. This implies that mediation is strictly helpful if and only if the likelihood of a …

This paper characterizes the optimal insurance contract in an environment where an informed agent can misrepresent the …), the optimal contract is such that higher losses are over-compensated while lower losses are on average under …-compensated. The amount by which higher losses are over-compensated decreases as the loss increases. The optimal contract may then be …

conflict of interest is positive but not too high. The value of mediation depends non--monotonically on the degree of conflict …We study the reasons and conditions under which mediation is beneficial when a principal needs information from an … mediator than through the agent himself. This implies that mediation is strictly helpful if and only if the likelihood of a …

design of separating auditing from contracting. The analysis sheds new light on the usefulness of mediation in contracting … each reported type the mediator randomizes over a base-contract and the audit contract, which is accompanied by a …

design of separating auditing from contracting. The analysis sheds new light on the usefulness of mediation in contracting … each reported type the mediator randomizes over a base-contract and the audit contract, which is accompanied by a …

In German literature, particularly in poetry, an amazing wealth of illustrations for economic contract theory can be …

a contract stipulating some transfer of funds from one player (say the agent) to the next (the principal) contingent on … separating contract exists. The optimal pooling contract can then be divided into two parts. For a proportion of Dares (x … inflicted to Dares convicted of a crime has no impact on the optimal contract. Investment in prevention is always beneficial if …