Equilibrium Limited Liability Contracts in a Landlord-Tenant Market
We propose a model based on competitive markets in order to analyse an economy with several homogeneous landlords and heterogeneous tenants. We model the landlord- tenant economy as a two-sided matching game and characterise the equilibrium of this market. In equilibrium, contracts are Pareto optimal, and the incremental surplus generated in a landlord-tenant relationship accrues to the tenant. We also suggest policy measures in relation to efficiency and income distribution.
|Date of creation:||Sep 2003|
|Date of revision:|
|Contact details of provider:|| Postal: |
Phone: +34 93 542-1222
Fax: +34 93 542-1223
Web page: http://www.barcelonagse.eu
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Kaniska Dam & David Pérez-Castrillo, 2001.
"The Principal-Agent Matching Market,"
UFAE and IAE Working Papers
503.01, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
- Kaniska Dam, 2003. "The Principal-Agent Matching Market," CESifo Working Paper Series 945, CESifo Group Munich.
- DAM, Kaniska & PEREZ-CASTRILLO, David, . "The principal-agent matching market," CORE Discussion Papers RP -1903, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- José Alcalde Pérez & Antonio Romero-Medina & David Pérez-Castrillo, 1997.
"Hiring procedures to implement stable allocations,"
Working Papers. Serie AD
1997-10, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
- V. Bhaskar, 2002. "Relative Performance Evaluation and Limited Liability," Economics Discussion Papers 550, University of Essex, Department of Economics.
- Sengupta, Kunal, 1997. "Limited liability, moral hazard and share tenancy," Journal of Development Economics, Elsevier, vol. 52(2), pages 393-407, April.
- Barros, F. & Macho-Stadler, M., 1995. "Competition for Managers and Market Efficiency," UFAE and IAE Working Papers 320.95, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
- Ackerberg, D.A. & Botticini, M., 1999.
"Endogenous Matching and the Empirical Determinants of Contract Form,"
96, Boston University - Department of Economics.
- Daniel A. Ackerberg & Maristella Botticini, 2002. "Endogenous Matching and the Empirical Determinants of Contract Form," Journal of Political Economy, University of Chicago Press, vol. 110(3), pages 564-591, June.
- Daniel A. Ackerberg & Maristella Botticini, 1999. "Endogenous Matching and the Empirical Determinants of Contract Form," Papers 0096, Boston University - Industry Studies Programme.
- Daniel A. Ackerberg & Maristella Botticini, 1999. "Endogenous Matching and the Empirical Determinants of Contract Form," Boston University - Institute for Economic Development 92, Boston University, Institute for Economic Development.
- Basu, Kaushik, 1992. "Limited liability and the existence of share tenancy," Journal of Development Economics, Elsevier, vol. 38(1), pages 203-220, January.
- Serfes, Konstantinos, 2005. "Risk sharing vs. incentives: Contract design under two-sided heterogeneity," Economics Letters, Elsevier, vol. 88(3), pages 343-349, September.
- Ghatak, Maitreesh & Pandey, Priyanka, 2000. "Contract choice in agriculture with joint moral hazard in effort and risk," Journal of Development Economics, Elsevier, vol. 63(2), pages 303-326, December.
- Legros, Patrick & Newman, Andrew, 2002. "Assortative Matching in a Non-transferable World," CEPR Discussion Papers 3469, C.E.P.R. Discussion Papers.
- Ray, Tridip & Singh, Nirvikar, 2001. "Limited liability, contractual choice, and the tenancy ladder," Journal of Development Economics, Elsevier, vol. 66(1), pages 289-303, October.
When requesting a correction, please mention this item's handle: RePEc:bge:wpaper:99. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Bruno Guallar)
If references are entirely missing, you can add them using this form.