Nonparametric adverse selection problems (Q1854738): Difference between revisions
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Latest revision as of 10:37, 30 July 2024
scientific article
| Language | Label | Description | Also known as |
|---|---|---|---|
| English | Nonparametric adverse selection problems |
scientific article |
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Nonparametric adverse selection problems (English)
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27 January 2003
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Consider a principal-agent problem where the agent's type is represented by a function. Then solving the problem that results requires an appeal to function space methods. This involves replacing convexity by an abstract notion of \(X\)-convexity and subdifferentiability by \(X\)-subdifferentiability. Under suitable measurability conditions, one can prove the existence of a solution to the principal-agent problem. A characterization of such a solution is also provided.
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principal agent problem
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vector space methods
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abstract convercity
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