IDEAS home Printed from https://ideas.repec.org/a/eee/ecolet/v112y2011i1p82-84.html

Ranking of signals in multitask agency models

Author

Listed:
  • Xie, Jia

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.

Suggested Citation

  • Xie, Jia, 2011. "Ranking of signals in multitask agency models," Economics Letters, Elsevier, vol. 112(1), pages 82-84, July.
    • Handle: RePEc:eee:ecolet:v:112:y:2011:i:1:p:82-84
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S016517651100111X
    Download Restriction: Full text for ScienceDirect subscribers only
    ---><---

    As the access to this document is restricted, you may want to

    for a different version of it.

    References listed on IDEAS

    as
    1. Rogerson, William P, 1985. "The First-Order Approach to Principal-Agent Problems," Econometrica, Econometric Society, vol. 53(6), pages 1357-1367, November.
    2. Page, Frank Jr., 1987. "The existence of optimal contracts in the principal-agent model," Journal of Mathematical Economics, Elsevier, vol. 16(2), pages 157-167, April.
    3. Claude Fluet & Dominique Demougin, 2001. "Ranking of information systems in agency models: an integral condition," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 17(2), pages 489-496.
    4. Bengt Holmstrom, 1979. "Moral Hazard and Observability," Bell Journal of Economics, The RAND Corporation, vol. 10(1), pages 74-91, Spring.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Jia Xie, 2015. "Information, Risk Sharing and Incentives in Agency Problems," Staff Working Papers 15-7, Bank of Canada.
    2. Jia Xie, 2017. "Information, Risk Sharing, And Incentives In Agency Problems," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 58(1), pages 157-182, February.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Ghossoub, Mario, 2010. "Supplement to "Belief heterogeneity in the Arrow-Borch-Raviv insurance model"," MPRA Paper 37717, University Library of Munich, Germany, revised 22 Mar 2012.
    2. Marie‐Cécile Fagart & Claude Fluet, 2009. "Liability insurance under the negligence rule," RAND Journal of Economics, RAND Corporation, vol. 40(3), pages 486-508, September.
    3. Bender, Klaus & Richter, Andreas, 2002. "Optimales Vertragsdesign bei moralischem Risiko in der Rückversicherung," Working Papers on Risk and Insurance 9, University of Hamburg, Institute for Risk and Insurance.
    4. Clausen, Andrew, 2013. "Moral Hazard with Counterfeit Signals," SIRE Discussion Papers 2013-13, Scottish Institute for Research in Economics (SIRE).
    5. Ohad Kadan & Philip J. Reny & Jeroen M. Swinkels, 2017. "Existence of Optimal Mechanisms in Principal‐Agent Problems," Econometrica, Econometric Society, vol. 85, pages 769-823, May.
    6. Martin Byford, 2003. "Moral Hazard From Costless Hidden Actions," Working Papers 2003.03, School of Economics, La Trobe University.
    7. Matthias Lang, 2023. "Stochastic contracts and subjective evaluations," RAND Journal of Economics, RAND Corporation, vol. 54(1), pages 104-134, March.
    8. Nahum D. Melumad, 1989. "Asymmetric information and the termination of contracts in agencies," Contemporary Accounting Research, John Wiley & Sons, vol. 5(2), pages 733-753, March.
    9. Kevin Gross & Carl T Bergstrom, 2024. "Rationalizing risk aversion in science: Why incentives to work hard clash with incentives to take risks," PLOS Biology, Public Library of Science, vol. 22(8), pages 1-15, August.
    10. Chade, Hector & Swinkels, Jeroen, 2020. "The moral hazard problem with high stakes," Journal of Economic Theory, Elsevier, vol. 187(C).
    11. Gabriela Zeller & Matthias Scherer, 2023. "Risk mitigation services in cyber insurance: optimal contract design and price structure," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 48(2), pages 502-547, April.
    12. Arifovic, Jasmina & Karaivanov, Alexander, 2010. "Learning by doing vs. learning from others in a principal-agent model," Journal of Economic Dynamics and Control, Elsevier, vol. 34(10), pages 1967-1992, October.
    13. Carlier, G. & Dana, R.-A., 2005. "Existence and monotonicity of solutions to moral hazard problems," Journal of Mathematical Economics, Elsevier, vol. 41(7), pages 826-843, November.
    14. Jonathan Levin, 2003. "Relational Incentive Contracts," American Economic Review, American Economic Association, vol. 93(3), pages 835-857, June.
    15. Byford, Martin C., 2017. "Moral hazard in strategic decision making," International Journal of Industrial Organization, Elsevier, vol. 55(C), pages 114-136.
    16. Jokivuolle, Esa & Keppo, Jussi, 2014. "Bankers' compensation: Sprint swimming in short bonus pools?," Bank of Finland Research Discussion Papers 2/2014, Bank of Finland.
    17. René Kirkegaard, 2020. "Microfounded Contest Design," Working Papers 2003, University of Guelph, Department of Economics and Finance.
    18. repec:bof:bofrdp:urn:nbn:fi:bof-201503041096 is not listed on IDEAS
    19. Jia Xie, 2015. "Information, Risk Sharing and Incentives in Agency Problems," Staff Working Papers 15-7, Bank of Canada.
    20. Chi, Chang Koo & Choi, Kyoung Jin, 2023. "A dual approach to agency problems," Journal of Mathematical Economics, Elsevier, vol. 109(C).
    21. Bizer, David S. & DeMarzo, Peter M., 1999. "Optimal Incentive Contracts When Agents Can Save, Borrow, and Default," Journal of Financial Intermediation, Elsevier, vol. 8(4), pages 241-269, October.

    More about this item

    Keywords

    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:ecolet:v:112:y:2011:i:1:p:82-84. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/ecolet .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.