An Analysis of the Principal-Agent Problem
DOI10.2307/1912246zbMATH Open0503.90018OpenAlexW3124071598WikidataQ56213601 ScholiaQ56213601MaRDI QIDQ3970124FDOQ3970124
Authors: Oliver D. Hart, Sanford J. Grossman
Publication date: 1983
Published in: Econometrica (Search for Journal in Brave)
Full work available at URL: http://www.dklevine.com/archive/refs4391749000000000339.pdf
moral hazardrisk sharingprincipal-agent problemuncertain environmentmarket allocations under uncertaintyoptimal incentive scheme
Convex programming (90C25) Applications of mathematical programming (90C90) General equilibrium theory (91B50)
Cited In (only showing first 100 items - show all)
- Moral hazard with bounded payments
- The value of information in a principal-agent model with moral hazard: the ex post contracting case
- Agency conflicts in the presence of random private benefits from project implementation
- On the value of randomization
- Dynamic incentive contracts with termination threats
- Informed principal, moral hazard, and the value of a more informative technology
- Incentive contracting under ambiguity aversion
- On the effects of the degree of discretion in reporting managerial performance
- Incentives and performance in the presence of wealth effects and endogenous risk
- Design of Incentive Programs for Optimal Medication Adherence in the Presence of Observable Consumption
- Knightian uncertainty and moral hazard
- Wealth effects in the principal agent model
- Optimal portfolio delegation when parties have different coefficients of risk aversion
- An uncertain wage contract model for risk-averse worker under bilateral moral hazard
- An envelope approach to tournament design
- Subjective evaluation versus public information
- Optimal incentives and the time dimension of performance measurement
- Asymmetric awareness and moral hazard
- Risk-bearing and entrepreneurship
- Mechanism design for the truthful elicitation of costly probabilistic estimates in distributed information systems
- Managerial reporting discretion and the truthfulness of disclosures
- Ad valorem versus per unit taxation: a perspective from price signaling
- Greater prudence and greater downside risk aversion
- Limited liability and incentive contracting with ex-ante action choices
- Linear contracts and the double moral-hazard
- A general Lagrangian approach for non-concave moral hazard problems
- Computing solutions to moral-hazard programs using the Dantzig-Wolfe decomposition algorithm
- Regulation of a risk averse firm
- Information space conditions for the first-order approach in agency problems
- The moral hazard problem with high stakes
- Optimal retention in agency problems
- Information in tournaments under limited liability
- The existence of optimal contracts in the principal-agent model
- PENALTIES WITHIN THE MORAL HAZARD PROBLEM
- Incentive contracts when production is subcontracted
- Limited liability contracts between principal and agent
- Competitive prizes: when less scrutiny induces more effort
- Allocation of resources in a divisionalized firm
- Moral hazard and limited liability: The real effects of contract bargaining
- Solution concepts of principal-agent models with unawareness of actions
- Economic juries and public project provision
- Vertical wage differences in hierarchically structured firms
- Contracts with endogenous information
- Optimal incentive contracts with multiple agents
- Experimental perspectives on incentives in organisations
- Tournaments as a response to ambiguity aversion in incentive contracts
- Outsourcing of innovation
- Markets and contracts
- Time consistent taxation by a government with redistributive goals
- Bounds on the welfare loss from moral hazard with limited liability
- A note on the strategic transmission of endogenous information
- Moral hazard and subjective evaluation
- Competitive equilibrium with moral hazard in economies with multiple commodities.
- The human side of mechanism design: a tribute to Leo Hurwicz and Jean-Jacque Laffont
- Derivative evaluation and computational experience with large bilevel mathematical programs
- On the moral hazard problem without the first-order approach
- On the first-order approach in principal-agent models with hidden borrowing and lending
- INFORMATION, RISK SHARING, AND INCENTIVES IN AGENCY PROBLEMS
- On the optimal taxation of capital income
- Limited liability and the risk-incentive relationship
- Renegotiating moral hazard contracts under limited liability and monotonicity
- Contracting with moral hazard, adverse selection and risk neutrality: when does one size fit all?
- The principal/agent paradigm: Its relevance to various functional fields
- A new class of sufficient conditions for the first-order approach to the principal-agent problem
- Overconfidence and moral hazard
- The value of information: The case of signal-dependent opportunity sets
- Moral hazard with excess returns
- Value of communication in agencies
- Optimal contracting of separable production technologies
- Effects of changes in preferences in moral hazard problems
- Agency theory: choice-based foundations of the parametrized distribution formulation
- The optimality of team contracts
- Common shocks and relative compensation
- Dynamic risk-sharing with two-sided moral hazard
- Characterizing optimal wages in principal-agent problems without using the first-order approach
- Contracting Theory with Competitive Interacting Agents
- Existence and monotonicity of solutions to moral hazard problems
- Moral hazard and the spanning condition without the first-order approach
- Intertemporal incentives under loss aversion
- Principal-Agent Models
- TAKING EFFORT SERIOUSLY: A REPLY TO CURRIE AND STEEDMAN
- Wealth effects and agency costs
- Bayesian agency: linear versus tractable contracts
- Labor market efficiency: output as the measure of welfare
- Executive compensation and competitive pressure in the product market: how does firm entry shape managerial incentives?
- The role of boundary solutions in principal-agent problems of the Holmström-Milgrom type
- Designing menus of contracts efficiently: the power of randomization
- Optimal incentives under gift exchange
- Efficient outcomes in a repeated agency model without discounting
- Bank monitoring incentives under moral hazard and adverse selection
- The ratchet effect: a learning perspective
- Matching with peer monitoring
- The straight and narrow: a game theory model of broad- and narrow-spectrum empiric antibiotic therapy
- Delegated information acquisition with moral hazard
- A dual approach to agency problems
- Robust incentives for risk
- A DEA methodology to evaluate the impact of information asymmetry on the efficiency of not-for-profit organizations with an application to higher education in Brazil
- Optimal incentives for teams: a multiscale decision theory approach
- Simple contracts under observable and hidden actions
- Incentive contracts and strictly proper scoring rules.
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