An in-depth examination of adverse selection, its historical context, categories, key events, implications, and strategies to mitigate its effects in various markets.
An in-depth analysis of the agency problem, exploring the conflict of interest that arises between principals and agents, the implications, and how to mitigate these issues through contract design and monitoring.
A comprehensive study of Contract Theory focusing on the design of contracts to provide appropriate incentives, addressing issues such as implicit contracts, incentive contracts, and principal-agent problems.
A contract that specifies outcomes in some but not in all possible states of the world. Incomplete contracts often lead to disagreements resolved through bargaining or litigation.
A comprehensive examination of the Principal-Agent Problem, including historical context, types, key events, detailed explanations, mathematical models, diagrams, applicability, examples, and more.
Reservation utility represents the minimum level of utility that must be guaranteed by a contract to make it acceptable to an agent, often analyzed in the context of the principal-agent problem.
