Teaching Tools: A Simple Principal-Agent Experiment for the Classroom
AbstractIn this note, the authors describe a simple, flexible, and instructive moral hazard experiment. It can be used in a variety of classes, including principles classes, to illustrate the basic incentive conflicts in principal-agent interactions, the importance of information, and the power of reputational enforcement. Copyright 1997 by Oxford University Press.
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Bibliographic InfoArticle provided by Western Economic Association International in its journal Economic Inquiry.
Volume (Year): 35 (1997)
Issue (Month): 2 (April)
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- Michael H. Kennedy, 2012. "Using Online Courseware to Play a Simulation Illustrating the Concept of Moral Hazard in Health Care," International Review of Economic Education, Economics Network, University of Bristol, vol. 11(1), pages 67-77.
- W. Doyle Smith, 2002. "Applying Angelo's Teacher's Dozen to Undergraduate Introductory Economics Classes: A Call for Greater Interactive Learning," Eastern Economic Journal, Eastern Economic Association, vol. 28(4), pages 539-549, Fall.
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