Nonparametric adverse selection problems

DOI10.1023/A:1021001917492MaRDI QIDQ1854738zbMATH OpenOpenAlexFDO

Authors Guillaume Carlier

Publication date 27 January 2003

Published in Annals of Operations Research (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1023/a:1021001917492

zbMATH Keywords

abstract convercityprincipal agent problemvector space methods

Mathematics Subject Classification ID

Review text

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.

Recommendations

• A general existence result for the principal-agent problem with adverse selection
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Cited in

(15)

• A dual characterization of incentive efficiency.
• Participation constraints in adverse selection models
• On the implementability of contracts without quasilinear utility
• Existence of solutions to principal-agent problems with adverse selection under minimal assumptions
• Learning in nonlinear pricing with unknown utility functions
• Rearrangement inequalities in non-convex insurance models
• Mechanism design with weaker incentive compatibility constraints
• Nonparametric identification of a contract model with adverse selection and moral hazard
• An adverse selection approach to power pricing
• The mathematics of principal-agent problem with adverse selection
• A general existence result for the principal-agent problem with adverse selection
• Participation constraints in discontinuous adverse selection models
• A duality and free boundary approach to adverse selection
• Adverse selection without single crossing: monotone solutions
• Adverse selection problems without the Spence-Mirrlees condition

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