Ranking of signals in multitask agency models
Abstract
A lift zonoid criterion is proven to be necessary and sufficient for ranking signals in multi-task agency models, and can be applied to a broader set of signals than a multivariate MPS criterion. The two criteria coincide under certain conditions.Download Info
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Bibliographic Info
Article provided by Elsevier in its journal Economics Letters.
Volume (Year): 112 (2011)
Issue (Month): 1 (July)
Pages: 82-84
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Web page: http://www.elsevier.com/locate/ecolet
Related research
Keywords: Multitask agency model Signal Lift zonoid Mean preserving spread;References
References listed on IDEASPlease report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Rogerson, William P, 1985. "The First-Order Approach to Principal-Agent Problems," Econometrica, Econometric Society, vol. 53(6), pages 1357-67, November.
- Claude Fluet & Dominique Demougin, 2001.
"Ranking of information systems in agency models: an integral condition,"
Economic Theory,
Springer, vol. 17(2), pages 489-496.
- Dominique Demougin & Claude Fluet, 1998. "Ranking of Information Systems in Agency Models: An Integral Condition," Cahiers de recherche CREFE / CREFE Working Papers 70, CREFE, Université du Québec à Montréal.
- Bengt Holmstrom, 1979.
"Moral Hazard and Observability,"
Bell Journal of Economics,
The RAND Corporation, vol. 10(1), pages 74-91, Spring.
- Bengt Holmstrom, 1997. "Moral Hazard and Observability," Levine's Working Paper Archive 1205, David K. Levine.
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