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Teaching Tools: A Simple Principal-Agent Experiment for the Classroom

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  • Ortmann, Andreas
  • Colander, David

Abstract

In 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.

Suggested Citation

  • Ortmann, Andreas & Colander, David, 1997. "Teaching Tools: A Simple Principal-Agent Experiment for the Classroom," Economic Inquiry, Western Economic Association International, vol. 35(2), pages 443-450, April.
  • Handle: RePEc:oup:ecinqu:v:35:y:1997:i:2:p:443-50
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    Cited by:

    1. 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.
    2. 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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