{"entities":{"Q1026249":{"pageid":1028097,"ns":120,"title":"Item:Q1026249","lastrevid":66052341,"modified":"2026-04-12T07:12:46Z","type":"item","id":"Q1026249","labels":{"en":{"language":"en","value":"Optimal securities under adverse selection and moral hazard"}},"descriptions":{"en":{"language":"en","value":"scientific article; zbMATH DE number 5569531"}},"aliases":{},"claims":{"P31":[{"mainsnak":{"snaktype":"value","property":"P31","hash":"fd5912e4dab4b881a8eb0eb27e7893fef55176ad","datavalue":{"value":{"entity-type":"item","numeric-id":56887,"id":"Q56887"},"type":"wikibase-entityid"},"datatype":"wikibase-item"},"type":"statement","id":"Q1026249$925C7958-F22B-4E04-8C7A-77040AD796FF","rank":"normal"}],"P159":[{"mainsnak":{"snaktype":"value","property":"P159","hash":"9e2a5c6f657522ba2d77193e75280781855ca617","datavalue":{"value":{"text":"Optimal securities under adverse selection and moral hazard","language":"en"},"type":"monolingualtext"},"datatype":"monolingualtext"},"type":"statement","id":"Q1026249$EFAD7FA7-C14A-4314-88EA-14FB34B692BD","rank":"normal"}],"P225":[{"mainsnak":{"snaktype":"value","property":"P225","hash":"33659652fd8bd8ad14ef9a330e409dc29e8a3957","datavalue":{"value":"1221.91033","type":"string"},"datatype":"external-id"},"type":"statement","id":"Q1026249$5E9F8DC6-BBF3-40F1-A0CD-5677DE3CFAA1","rank":"normal"}],"P16":[{"mainsnak":{"snaktype":"value","property":"P16","hash":"33fd8a7de5d4effa4e56fc8d4fc5ebe5c80c455e","datavalue":{"value":{"entity-type":"item","numeric-id":345186,"id":"Q345186"},"type":"wikibase-entityid"},"datatype":"wikibase-item"},"type":"statement","id":"Q1026249$3CE01E55-6D28-47F9-A81F-B42A2B157688","rank":"normal"}],"P200":[{"mainsnak":{"snaktype":"value","property":"P200","hash":"e4c2e988e5006d85760634c8bd82b90d5dc4af6e","datavalue":{"value":{"entity-type":"item","numeric-id":176927,"id":"Q176927"},"type":"wikibase-entityid"},"datatype":"wikibase-item"},"type":"statement","id":"Q1026249$F601FC52-FDD9-4038-8541-55A4ED310029","rank":"normal"}],"P28":[{"mainsnak":{"snaktype":"value","property":"P28","hash":"e338882137be263b39b6e51d9f6f4967ebc846d3","datavalue":{"value":{"time":"+2009-06-24T00:00:00Z","timezone":0,"before":0,"after":0,"precision":11,"calendarmodel":"http://www.wikidata.org/entity/Q1985727"},"type":"time"},"datatype":"time"},"type":"statement","id":"Q1026249$67495C28-762E-41D0-8A4A-F30D0E2212DB","rank":"normal"}],"P205":[{"mainsnak":{"snaktype":"value","property":"P205","hash":"c552981448a1db6d1c8ca69af683fbeb492b43ca","datavalue":{"value":"http://wrap.warwick.ac.uk/1084/1/WRAP_Koufopoulos_Optimal_Securities_under_Adverse_Selection_and_Moral_Hazard_%28JME_Revised%29.pdf","type":"string"},"datatype":"url"},"type":"statement","id":"Q1026249$F992EA08-20B2-4A3E-A27E-E44E853A4A67","rank":"normal"}],"P1448":[{"mainsnak":{"snaktype":"value","property":"P1448","hash":"c8ea8aba86b427b55dd7d7fac791fd34ab619ef6","datavalue":{"value":"The author constructs a simple asymmetric information model that provides a rationale for the use of warrants. He abstracts from taxes, financial distress, bankruptcy and other agency costs. He considers a model involving both adverse selection and (effort) moral hazard. There are two types of firms (projects): good and bad. Given identical effort levels, the success probability is the same for both types of projects but in case of success the good project's return is higher (first-order stochastic dominance). In the event of failure, regardless of this type, the project's return is zero. As a benchmark, the author first considers the case where moral hazard is not binding. In this case, the role of securities is to convey socially costless information about the type of the project. The introduction of moral hazard into an adverse selection framework has significant effects both on the combinations of the securities issued in equilibrium and their pricing.","type":"string"},"datatype":"string"},"type":"statement","id":"Q1026249$40A71405-1DED-4C2C-A46A-FF78754D0CE6","rank":"normal"}],"P1447":[{"mainsnak":{"snaktype":"value","property":"P1447","hash":"211749c1d227f6a0ecb5a275daf45f962359411c","datavalue":{"value":{"entity-type":"item","numeric-id":272381,"id":"Q272381"},"type":"wikibase-entityid"},"datatype":"wikibase-item"},"type":"statement","id":"Q1026249$CD8A7632-12A5-4786-9444-E85C7B92CBF2","rank":"normal"}],"P226":[{"mainsnak":{"snaktype":"value","property":"P226","hash":"3c41ac41d6e70ec19c64bdeedb4a0e69dd9ac054","datavalue":{"value":"91B38","type":"string"},"datatype":"external-id"},"type":"statement","id":"Q1026249$E1680C38-5358-4D6E-8D6F-8B62827FA262","rank":"normal"}],"P1451":[{"mainsnak":{"snaktype":"value","property":"P1451","hash":"3aeebdf0ae30a0c7030909bfabdb5c8e583d3870","datavalue":{"value":"5569531","type":"string"},"datatype":"external-id"},"type":"statement","id":"Q1026249$C9A659FC-8827-47EC-A242-10BBD9464007","rank":"normal"}],"P1450":[{"mainsnak":{"snaktype":"value","property":"P1450","hash":"90dd4149111bff5e0cfa280ce42c99d55d7420f0","datavalue":{"value":"adverse selection","type":"string"},"datatype":"string"},"type":"statement","id":"Q1026249$2B6B3D27-9D7B-4C30-9F0D-B7EDDDEEB26D","rank":"normal"},{"mainsnak":{"snaktype":"value","property":"P1450","hash":"43e7ff26deb174bb636a59deff695885a1f9f87a","datavalue":{"value":"capital structure","type":"string"},"datatype":"string"},"type":"statement","id":"Q1026249$84A6F195-D0AE-4CAE-B1CF-60EC2117AB7D","rank":"normal"},{"mainsnak":{"snaktype":"value","property":"P1450","hash":"48815087ce12dc4c895689e9a87160cb7492ed98","datavalue":{"value":"moral hazard","type":"string"},"datatype":"string"},"type":"statement","id":"Q1026249$9CBC58C4-1F5B-4314-8690-F013F8D4F8A1","rank":"normal"}],"P1460":[{"mainsnak":{"snaktype":"value","property":"P1460","hash":"57f7fea50d2ce1b39b695c4a1313582eed405e38","datavalue":{"value":{"entity-type":"item","numeric-id":5976449,"id":"Q5976449"},"type":"wikibase-entityid"},"datatype":"wikibase-item"},"type":"statement","id":"Q1026249$5C791A99-2E2B-4BE2-A237-8C2E881329E5","rank":"normal"}],"P388":[{"mainsnak":{"snaktype":"value","property":"P388","hash":"1d26b2e36fd535cfe833d0c668ec64948c552ce8","datavalue":{"value":"W1964337500","type":"string"},"datatype":"external-id"},"type":"statement","id":"Q1026249$DA1C0951-93E9-43C7-AE99-3B1C276623BB","rank":"normal"}],"P223":[{"mainsnak":{"snaktype":"value","property":"P223","hash":"9d42c212f7adb46f4e2beca848cf4b3e9fca59e5","datavalue":{"value":{"entity-type":"item","numeric-id":3030609,"id":"Q3030609"},"type":"wikibase-entityid"},"datatype":"wikibase-item"},"type":"statement","id":"Q1026249$513B99DB-F5F9-450C-AB0F-83C99DBD2FBA","rank":"normal"},{"mainsnak":{"snaktype":"value","property":"P223","hash":"e23294864de5b0608d331cc403b2274058af2a1a","datavalue":{"value":{"entity-type":"item","numeric-id":4446335,"id":"Q4446335"},"type":"wikibase-entityid"},"datatype":"wikibase-item"},"type":"statement","id":"Q1026249$B70BE527-8D57-4EF7-B26B-59515296D41B","rank":"normal"},{"mainsnak":{"snaktype":"value","property":"P223","hash":"90467f089d9b2dcba1d2777b2b32eb7bd45ebfc7","datavalue":{"value":{"entity-type":"item","numeric-id":753644,"id":"Q753644"},"type":"wikibase-entityid"},"datatype":"wikibase-item"},"type":"statement","id":"Q1026249$22476421-D80F-40D6-9DA6-E4E4A27777EE","rank":"normal"},{"mainsnak":{"snaktype":"value","property":"P223","hash":"2c7841ba7d7ebb393415e01e8881b1a1df091dac","datavalue":{"value":{"entity-type":"item","numeric-id":1255879,"id":"Q1255879"},"type":"wikibase-entityid"},"datatype":"wikibase-item"},"type":"statement","id":"Q1026249$68CBA13E-FC10-458B-84F3-932008E186CC","rank":"normal"}],"P27":[{"mainsnak":{"snaktype":"value","property":"P27","hash":"f66f64c17079a6a153b904010d5352e0bc8d2a80","datavalue":{"value":"10.1016/J.JMATECO.2009.03.003","type":"string"},"datatype":"external-id"},"type":"statement","id":"Q1026249$495CBBBF-E1B5-4974-B72A-9224DD438AE4","rank":"normal"}],"P1643":[{"mainsnak":{"snaktype":"value","property":"P1643","hash":"39396610867db02d60010029943cf0331594e660","datavalue":{"value":{"entity-type":"item","numeric-id":4610466,"id":"Q4610466"},"type":"wikibase-entityid"},"datatype":"wikibase-item"},"type":"statement","qualifiers":{"P1659":[{"snaktype":"value","property":"P1659","hash":"5460e7dac31e50924c22a45fd987274275aa0c1e","datavalue":{"value":{"amount":"+0.790611982345581","unit":"1"},"type":"quantity"},"datatype":"quantity"}],"P1660":[{"snaktype":"value","property":"P1660","hash":"a327a09ea0305e98d5cf33bd4036320e19f2aed0","datavalue":{"value":{"entity-type":"item","numeric-id":6821328,"id":"Q6821328"},"type":"wikibase-entityid"},"datatype":"wikibase-item"}]},"qualifiers-order":["P1659","P1660"],"id":"Q1026249$FC8B431B-C598-43BF-A4F9-9B3DF9784902","rank":"normal"},{"mainsnak":{"snaktype":"value","property":"P1643","hash":"de682b2f8bf23ed88c4112cbc2046d100f634880","datavalue":{"value":{"entity-type":"item","numeric-id":1762738,"id":"Q1762738"},"type":"wikibase-entityid"},"datatype":"wikibase-item"},"type":"statement","qualifiers":{"P1659":[{"snaktype":"value","property":"P1659","hash":"1389115b23c1e267b5f3c7cf28a1181c290e1553","datavalue":{"value":{"amount":"+0.7516298890113831","unit":"1"},"type":"quantity"},"datatype":"quantity"}],"P1660":[{"snaktype":"value","property":"P1660","hash":"a327a09ea0305e98d5cf33bd4036320e19f2aed0","datavalue":{"value":{"entity-type":"item","numeric-id":6821328,"id":"Q6821328"},"type":"wikibase-entityid"},"datatype":"wikibase-item"}]},"qualifiers-order":["P1659","P1660"],"id":"Q1026249$67CA2D94-D630-41A6-A148-73EB0F785160","rank":"normal"},{"mainsnak":{"snaktype":"value","property":"P1643","hash":"6c4f4f51ce825fff67d61d99ea26bac71958aff1","datavalue":{"value":{"entity-type":"item","numeric-id":1867767,"id":"Q1867767"},"type":"wikibase-entityid"},"datatype":"wikibase-item"},"type":"statement","qualifiers":{"P1659":[{"snaktype":"value","property":"P1659","hash":"f05c8cac200a1f918dca1ac9fb16229d1b7712ed","datavalue":{"value":{"amount":"+0.744367241859436","unit":"1"},"type":"quantity"},"datatype":"quantity"}],"P1660":[{"snaktype":"value","property":"P1660","hash":"a327a09ea0305e98d5cf33bd4036320e19f2aed0","datavalue":{"value":{"entity-type":"item","numeric-id":6821328,"id":"Q6821328"},"type":"wikibase-entityid"},"datatype":"wikibase-item"}]},"qualifiers-order":["P1659","P1660"],"id":"Q1026249$884F4B9D-B0B9-4901-A5B5-32013C69BDAE","rank":"normal"},{"mainsnak":{"snaktype":"value","property":"P1643","hash":"b2f81b380f196a724e9adb2a1faf68cf32d5af5b","datavalue":{"value":{"entity-type":"item","numeric-id":2302840,"id":"Q2302840"},"type":"wikibase-entityid"},"datatype":"wikibase-item"},"type":"statement","qualifiers":{"P1659":[{"snaktype":"value","property":"P1659","hash":"31b2ff4f1f0c0159b89c4999879435c6463b961c","datavalue":{"value":{"amount":"+0.7417327761650085","unit":"1"},"type":"quantity"},"datatype":"quantity"}],"P1660":[{"snaktype":"value","property":"P1660","hash":"a327a09ea0305e98d5cf33bd4036320e19f2aed0","datavalue":{"value":{"entity-type":"item","numeric-id":6821328,"id":"Q6821328"},"type":"wikibase-entityid"},"datatype":"wikibase-item"}]},"qualifiers-order":["P1659","P1660"],"id":"Q1026249$7E662DFF-5206-4DA7-8E7A-7D76D0E0EAAA","rank":"normal"},{"mainsnak":{"snaktype":"value","property":"P1643","hash":"b7b34a80327236ff18d8451e739d3cd4b66f49e6","datavalue":{"value":{"entity-type":"item","numeric-id":3012093,"id":"Q3012093"},"type":"wikibase-entityid"},"datatype":"wikibase-item"},"type":"statement","qualifiers":{"P1659":[{"snaktype":"value","property":"P1659","hash":"877780945c5248cb7feb880d214adbe22aeae6bc","datavalue":{"value":{"amount":"+0.7401646375656128","unit":"1"},"type":"quantity"},"datatype":"quantity"}],"P1660":[{"snaktype":"value","property":"P1660","hash":"a327a09ea0305e98d5cf33bd4036320e19f2aed0","datavalue":{"value":{"entity-type":"item","numeric-id":6821328,"id":"Q6821328"},"type":"wikibase-entityid"},"datatype":"wikibase-item"}]},"qualifiers-order":["P1659","P1660"],"id":"Q1026249$E7F73F53-15BD-49E6-8ACC-3029DBDAC123","rank":"normal"}]},"sitelinks":{"mardi":{"site":"mardi","title":"Optimal securities under adverse selection and moral hazard","badges":[],"url":"https://portal.mardi4nfdi.de/wiki/Optimal_securities_under_adverse_selection_and_moral_hazard"}}}}}