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Principal-Agent Problem with Minimum Performance Insurance

Author

Listed:
  • Juan Manuel Julio

Abstract

A minimum performance insurance in the Principal-Agent problem is wealth reducing to the principal. This result points to further inefficiencies in mandatory individual Pension Funds' contracts, particularly the one established in the 1993's 100th Law in Colombia.

Suggested Citation

  • Juan Manuel Julio, 2009. "Principal-Agent Problem with Minimum Performance Insurance," Borradores de Economia 546, Banco de la Republica de Colombia.
  • Handle: RePEc:bdr:borrec:546
    DOI: 10.32468/be.546
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    More about this item

    Keywords

    Incentives; Agency Theory; Pensions.;
    All these keywords.

    JEL classification:

    • D86 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Economics of Contract Law
    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors

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