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Linear Contracts and the Double Moral-Hazard

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  • Kim, Son Ku
  • Wang, Susheng
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    File URL: http://www.sciencedirect.com/science/article/B6WJ3-45KNC7G-3/2/644f44545c47e6009934c3aa52ed33b4
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    Bibliographic Info

    Article provided by Elsevier in its journal Journal of Economic Theory.

    Volume (Year): 82 (1998)
    Issue (Month): 2 (October)
    Pages: 342-378

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    Handle: RePEc:eee:jetheo:v:82:y:1998:i:2:p:342-378

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    Web page: http://www.elsevier.com/locate/inca/622869

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    References

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    Please 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.:
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    1. Rubin, Paul H, 1978. "The Theory of the Firm and the Structure of the Franchise Contract," Journal of Law and Economics, University of Chicago Press, vol. 21(1), pages 223-33, April.
    2. Rogerson, William P, 1985. "The First-Order Approach to Principal-Agent Problems," Econometrica, Econometric Society, vol. 53(6), pages 1357-67, November.
    3. Mathewson, G Frank & Winter, Ralph A, 1985. "The Economics of Franchise Contracts," Journal of Law and Economics, University of Chicago Press, vol. 28(3), pages 503-26, October.
    4. Bengt Holmstrom & Paul R. Milgrom, 1985. "Aggregation and Linearity in the Provision of Intertemporal Incentives," Cowles Foundation Discussion Papers 742, Cowles Foundation for Research in Economics, Yale University.
    5. Merton, Robert C., 1971. "Optimum consumption and portfolio rules in a continuous-time model," Journal of Economic Theory, Elsevier, vol. 3(4), pages 373-413, December.
    6. Patrick Legros & Hitoshi Matsushima, 1991. "Efficiency in partnerships," ULB Institutional Repository 2013/7044, ULB -- Universite Libre de Bruxelles.
    7. Ross, Stephen A, 1973. "The Economic Theory of Agency: The Principal's Problem," American Economic Review, American Economic Association, vol. 63(2), pages 134-39, May.
    8. Bengt Holmstrom, 1997. "Moral Hazard and Observability," Levine's Working Paper Archive 1205, David K. Levine.
    9. Sanford J Grossman & Oliver D Hart, 2001. "An Analysis of the Principal-Agent Problem," Levine's Working Paper Archive 391749000000000339, David K. Levine.
    10. Jewitt, Ian, 1988. "Justifying the First-Order Approach to Principal-Agent Problems," Econometrica, Econometric Society, vol. 56(5), pages 1177-90, September.
    11. Eswaran, Mukesh & Kotwal, Ashok, 1985. "A Theory of Contractual Structure in Agriculture," American Economic Review, American Economic Association, vol. 75(3), pages 352-67, June.
    12. Joseph E. Stiglitz, 1973. "Incentives and Risk-Sharing in Sharecropping," Cowles Foundation Discussion Papers 353, Cowles Foundation for Research in Economics, Yale University.
    13. Harris, Milton & Raviv, Artur, 1979. "Optimal incentive contracts with imperfect information," Journal of Economic Theory, Elsevier, vol. 20(2), pages 231-259, April.
    14. Al-Najjar, Nabil I., 1997. "Incentive Contracts in Two-Sided Moral Hazards with Multiple Agents," Journal of Economic Theory, Elsevier, vol. 74(1), pages 174-195, May.
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    Citations

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    Cited by:
    1. Schmitz, Patrick W., 2002. "On the Interplay of Hidden Action and Hidden Information in Simple Bilateral Trading Problems," MPRA Paper 12531, University Library of Munich, Germany.
    2. Wang, Susheng & Zhou, Hailan, 2004. "Staged financing in venture capital: moral hazard and risks," Journal of Corporate Finance, Elsevier, vol. 10(1), pages 131-155, January.
    3. Hiroshi Osano & Keiichi Hori, 2013. "Managerial Incentives and the Role of Advisors in the Continuous-Time Agency Model," KIER Working Papers 863, Kyoto University, Institute of Economic Research.
    4. Zhao, Rui R., 2007. "Dynamic risk-sharing with two-sided moral hazard," Journal of Economic Theory, Elsevier, vol. 136(1), pages 601-640, September.
    5. Schmitz, Patrick W, 2001. "The Hold-up Problem and Incomplete Contracts: A Survey of Recent Topics in Contract Theory," Bulletin of Economic Research, Wiley Blackwell, vol. 53(1), pages 1-17, January.
    6. Wang, Susheng, 2008. "The optimality of contingent fees in the agency problem of litigation," International Review of Law and Economics, Elsevier, vol. 28(1), pages 23-31, March.
    7. Udo Schneider, 2004. "Asymmetric Information and the Demand for Health Care - the Case of Double Moral Hazard," HEW 0409001, EconWPA.
    8. Canan Savaskan & Charles J. Corbett, 2001. "Contracting and Coordination in Closed-Loop Supply Chains," Discussion Papers 1327, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
    9. Rosenkranz, Stephanie & Schmitz, Patrick W., 2001. "Vertikale Unternehmenskooperationen," MPRA Paper 6930, University Library of Munich, Germany.
    10. Corbett, Charles J. & DeCroix, Gregory A. & Ha, Albert Y., 2005. "Optimal shared-savings contracts in supply chains: Linear contracts and double moral hazard," European Journal of Operational Research, Elsevier, vol. 163(3), pages 653-667, June.
    11. Dutta, Mousumi & Husain, Zakir, 2012. "Use of hospital services and socio-economic status in urban India: Does health insurance ensure equitable outcomes?," MPRA Paper 40055, University Library of Munich, Germany.
    12. Elitzur, Ramy & Gavious, Arieh & Wensley, Anthony K.P., 2012. "Information systems outsourcing projects as a double moral hazard problem," Omega, Elsevier, vol. 40(3), pages 379-389.
    13. Michael T. Rauh, 2007. "Incentives, Solidarity, and the Division of Labor," Working Papers 2007-15, Indiana University, Kelley School of Business, Department of Business Economics and Public Policy.
    14. Major, Iván, 2013. "When trust fades...: Can optimal mechanisms for policy decisions always be designed?," 24th European Regional ITS Conference, Florence 2013 88522, International Telecommunications Society (ITS).

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