Moral hazard with limited liability: Random-variable formulation and optimal contract structures
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DOI: 10.1016/j.geb.2021.01.002
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More about this item
Keywords
Moral hazard; Risk-neutral agency; Limited liability; First-order approach; Pay-for-performance;All these keywords.
JEL classification:
- D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
- D86 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Economics of Contract Law
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