The Resource Asymmetric awareness and moral hazard, Sarah Auster

Asymmetric awareness and moral hazard, Sarah Auster

Label
Asymmetric awareness and moral hazard
Title
Asymmetric awareness and moral hazard
Statement of responsibility
Sarah Auster
Creator
Contributor
Subject
Language
eng
Summary
This paper introduces asymmetric awareness into the classical principal-agent model and discusses the optimal contract between a fully aware principal and an unaware agent. The principal enlarges the agent's awareness strategically when proposing the contract. He faces a trade-off between participation and incentives. Leaving the agent unaware allows him to exploit the agent's incomplete understanding of the world. Making the agent aware enables the principal to use the revealed contingencies as signals about the agent's action choice. The optimal contract reveals contingencies that have low probability but are highly informative about the agent's effort
Member of
Cataloging source
IT-FiEUI
http://library.link/vocab/creatorName
Auster, Sarah
Index
no index present
Literary form
non fiction
http://library.link/vocab/relatedWorkOrContributorName
European University Institute
Series statement
  • EUI working papers. ECO
  • EUI papers
Series volume
2012/23
http://library.link/vocab/subjectName
Contracts
Label
Asymmetric awareness and moral hazard, Sarah Auster
Link
http://hdl.handle.net/1814/24274
Instantiates
Publication
Note
Subject: Unawareness; Moral Hazard; Incomplete Contracts; D01; D83; D86
Carrier category
volume
Carrier category code
  • nc
Carrier MARC source
rdacarrier.
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent.
Control code
FIEb17188258
Dimensions
30 cm.
Extent
39 pages
Media category
unmediated
Media MARC source
rdamedia.
Media type code
  • n
Other physical details
illustrations
System control number
(OCoLC)851517420
Label
Asymmetric awareness and moral hazard, Sarah Auster
Link
http://hdl.handle.net/1814/24274
Publication
Note
Subject: Unawareness; Moral Hazard; Incomplete Contracts; D01; D83; D86
Carrier category
volume
Carrier category code
  • nc
Carrier MARC source
rdacarrier.
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent.
Control code
FIEb17188258
Dimensions
30 cm.
Extent
39 pages
Media category
unmediated
Media MARC source
rdamedia.
Media type code
  • n
Other physical details
illustrations
System control number
(OCoLC)851517420

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