Contracts, Contract Design, and Static Agency Relationships

Marcelo Bianconi

Chapter 5 in Financial Economics, Risk and Information:An Introduction to Methods and Models, 2003, pp 212-283 from World Scientific Publishing Co. Pte. Ltd.

Abstract: AbstractThe following sections are included:Introduction to Bilateral Relationships and ContractsTheories of the Firm: Agency, Transactions Costs and Property RightsSummary IIntroduction to Adverse SelectionThe Principal-Agent RelationshipA Simple Example in Insurance MarketsMechanism Design: A Problem of Price DiscriminationAdverse Selection in Credit Markets and the Possibility of Credit RationingSignalingSummary IIIntroduction to Moral HazardFinite Number of Actions and Outcomes, Principal and Agent both Risk NeutralVariations with Finite Number of Actions, Principal is Risk Neutral, Agent is Risk AverseInfinite Number of Actions and First Order Approach, Principal is Risk Neutral, Agent is Risk AverseSummary IIIAsset Returns and Moral HazardBasic ModelEquilibrium Asset ReturnsSummary IVProblems and QuestionsNotes on the LiteratureReferences

Keywords: Risk and Information; Systems of Financial Markets; Contracts and Asymmetric Information; General Equilibrium Under Uncertainty; Non-Convexities; Portfolio Choice and Asset Pricing (search for similar items in EconPapers)
Date: 2003
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