This book deals with a wide range of topics in agency theory. Agency theory focuses on information and on incentives, with basic approaches from microeconomics and risk analysis. Among the broad variety of applications are the different organizational patterns of cooperation in institutions and...

Prologue -- 1. Equilibrium versus Market Imperfections -- 2. Questions and Answers -- The Hybrid Model and Related Approaches to Capital Market Equilibria -- 1. Introduction -- 2. Portfolio Models Based on Different Sets of Parameters -- 3. Rationale of the Hybrid Model -- 4. Applications of the...

Die Bedeutung von Versicherungen und Einrichtungen kapitalgebundener Altersvorsorge für unsere Gesellschaft ist immens und nimmt weiter zu. Es ist deshalb äußerst wichtig, dass die Institutionen , die die Altersvorsorge tragen, auf einer gesunden wirtschaftlichen Basis stehen. Zur Zeit ist...

Prologue -- Opening Address -- Risk and Saving -- I: Information, Risk Aversion, and Capital Market Theory -- The Impacts of Variance Reducing Strategies in Dyopolistic Capital Markets -- Notes on Costless Financial Signalling -- Variable Information and Capital Market Equilibria -- Diffusion...