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Information Asymmetry: Adverse Selection and Moral Hazard

In: Contract Theory: Discrete- and Continuous-Time Models

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  • Jaeyoung Sung

    (Ajou University)

Abstract

We study both discrete- and continuous-time contracting problems in the presence of adverse selection and moral hazard under fullFull commitment commitment. Our models suggest that the PPS for the agent of average talent is lower and the motivation for a riskier project is stronger under adverse selection and moral hazard, than they are under moral hazard alone.

Suggested Citation

  • Jaeyoung Sung, 2023. "Information Asymmetry: Adverse Selection and Moral Hazard," Springer Books, in: Contract Theory: Discrete- and Continuous-Time Models, chapter 0, pages 289-304, Springer.
    • Handle: RePEc:spr:sprchp:978-981-99-5487-2_17
    DOI: 10.1007/978-981-99-5487-2_17
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