Moral hazard with the (unlikely) possibility of catastrophes

DOI10.1016/J.ECONLET.2014.06.035MaRDI QIDQ485707zbMATH OpenOpenAlexFDO

Authors Ziemowit Bednarek, Pratish Patel

Publication date 14 January 2015

Published in Economics Letters (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1016/j.econlet.2014.06.035

zbMATH Keywords

cumulantsmoral hazardoptimal contractrare disastersskewness

Mathematics Subject Classification ID

Heterogeneous agent models (91B69) Statistical methods; risk measures (91G70)

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Cites work

• Consumption-based asset pricing with higher cumulants

Cited in

(5)

• Moral hazard, externalities, and compensation for crop damages from wildlife
• Risk aversion, moral hazard and the principal's loss.
• Moral hazard with a finite number of states
• Moral hazard with excess returns
• Informed-principal problem with moral hazard, risk neutrality, and no limited liability

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