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Economic Analysis of Accident Concealment

In: Proceedings of the 9th International Conference on Financial Innovation and Economic Development (ICFIED 2024)

Author

Listed:
  • Li Wang

    (Xi’an University of Science and Technology, College of Safety Science and Engineering)

  • Chenyu Ma

    (Xi’an University of Science and Technology, College of Safety Science and Engineering)

  • Chaohua Li

    (Xi’an University of Science and Technology, College of Safety Science and Engineering)

Abstract

In order to deeply reveal the economic relationship between the main stakeholders of accident concealment, this paper constructed a “principal-agent” model and incorporated rent-seeking behavior into the model, and analyzed the two cases of agent corruption and rent-seeking corruption respectively. The results show that: Agent corruption can be avoided by reducing the benefits of corruption and weakening the agent’s function in the distribution of public power. The high cost of rent-seeking will increase the probability that rent-seekers will choose to conceal accidents. The cost of the inspection set by the client should not be too high. Control measures such as rectifying the law enforcement team, encouraging multi-party supervision, and raising the threshold for rent-seeking can effectively reduce the occurrence of accident concealment.

Suggested Citation

  • Li Wang & Chenyu Ma & Chaohua Li, 2024. "Economic Analysis of Accident Concealment," Advances in Economics, Business and Management Research, in: Khaled Elbagory & Zefu Wu & Hamdan Amer Ali Al-Jaifi & Shafie Mohamed Zabri (ed.), Proceedings of the 9th International Conference on Financial Innovation and Economic Development (ICFIED 2024), pages 89-96, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-408-2_11
    DOI: 10.2991/978-94-6463-408-2_11
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