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We develop a structural model to investigate the effects of asymmetric beliefs and agency conflicts on dynamic principal-agent relationships. Our model differs from previous models by incorporating three key features in a unified framework: (i) asymmetric beliefs and risk attitudes, (ii) actions...
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Background: Exchangeable item repair systems are inventory systems. A nonfunctional item is exchanged for a functional item and returns to the system after being repaired. In our periodic review setting, repair is performed either in-house or outsourced. When repair is in-house, a repaired item...
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This study investigates how an increase in the quality of business ventures, measured as their success probability, affects trust and return on investment (ROI) in situations where the investor-entrepreneur interaction is affected by moral hazard and asymmetric information. We model a repeated...
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