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Ranking of information systems in agency models: an integral condition

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Author Info

  • Claude Fluet

    ()
    (UniversitÊ du QuÊbec Á MontrÊal, C.P. 8888, MontrÊal, H3C 3P8, CANADA)

  • Dominique Demougin

    ()
    (Otto-von-Guericke UniversitÄt, UniversitÄtsplatz 2, 39106 Magdeburg, GERMANY)

Abstract

We provide a condition for ranking of information systems in agency problems. The condition has a straightforward economic interpretation in terms of the sensitivity of a cumulative distribution with respect to the agent's effort. The criterion is shown to be equivalent to the mean preserving spread condition on the likelihood ratio distributions.

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Bibliographic Info

Article provided by Springer in its journal Economic Theory.

Volume (Year): 17 (2001)
Issue (Month): 2 ()
Pages: 489-496

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Handle: RePEc:spr:joecth:v:17:y:2001:i:2:p:489-496

Note: Received: November 10, 1999; revised version: February 17, 2000
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Related research

Keywords: Moral hazard; Information systems.;

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References

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  1. Dominique Demougin & Claude Fluet, 1996. "Mechanism Sufficient Statistic in the Risk-Neutral Agency Problem," Cahiers de recherche du Département des sciences économiques, UQAM 9602, Université du Québec à Montréal, Département des sciences économiques.
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Citations

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Cited by:
  1. Bernhard Eckwert & Itzhak Zilcha, 2007. "The Effect of Better Information on Income Inequality," Economic Theory, Springer, vol. 32(2), pages 287-307, August.
  2. Jörg Budde & Matthias Kräkel, 2011. "Limited liability and the risk–incentive relationship," Journal of Economics, Springer, vol. 102(2), pages 97-110, March.
  3. Fluet, Claude, 2010. "Liability rules under evidentiary uncertainty," International Review of Law and Economics, Elsevier, vol. 30(1), pages 1-9, March.
  4. Jörg Budde, 2005. "Information in tournaments under limited liability," Bonn Econ Discussion Papers bgse21_2005, University of Bonn, Germany.
  5. Budde, Jörg, 2009. "Information in tournaments under limited liability," Journal of Mathematical Economics, Elsevier, vol. 45(1-2), pages 59-72, January.
  6. Dominique Demougin & Claude Fluet, 2000. "Prepondeance of the Evidence: Tort Rules and the Efficient Standard of Proof," Cahiers de recherche CREFE / CREFE Working Papers 120, CREFE, Université du Québec à Montréal.
  7. Marie-Cécile Fagart & Claude Fluet, 2009. "Liability insurance under the negligence rule," RAND Journal of Economics, RAND Corporation, vol. 40(3), pages 486-508.
  8. Xie, Jia, 2011. "Ranking of signals in multitask agency models," Economics Letters, Elsevier, vol. 112(1), pages 82-84, July.
  9. Dominique Demougin & Claude Fluet, 1999. "Costly Sanctions and the Maximum Penalty Principle," Cahiers de recherche CREFE / CREFE Working Papers 100, CREFE, Université du Québec à Montréal.

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