Showing 1 - 7 of 7
Persistent link: https://www.econbiz.de/10003716185
Consider an agent who can costlessly add mean-preserving noise to his output. To deter such risk-taking, the principal optimally offers a contract that makes the agent's utility concave in output. If the agent is risk-neutral and protected by limited liability, this concavity constraint binds...
Persistent link: https://www.econbiz.de/10012308620
Persistent link: https://www.econbiz.de/10000683416
Persistent link: https://www.econbiz.de/10001610053
Persistent link: https://www.econbiz.de/10002043105
Persistent link: https://www.econbiz.de/10015070875
Persistent link: https://www.econbiz.de/10013422667