The course reviews the main topics and models of the incentive theory. It focuses on the principal-agent paradigm where the principal delegates an action to a single agent through the take-it-or-leave-it offer of a contract. Major topics are represented by the problem of adverse selection, which occurs when the agent learns some piece of information relevant to the contractual relationship, and the problem of moral hazard, which appears as soon as the agent’s actions are not observable. First, the trade-offs that emerge in these contexts are characterized: the rent extraction-efficiency trade-off under adverse selection and the trade-offs between the extraction of limited liability rent and efficiency and also between insurance and efficiency under moral hazard. Then, extensions of the basic framework to more complex environments are discussed. Mixed models with adverse selection, moral hazard and nonverifiability of the state of the world are also treated. Principal-agent models with adverse selection and moral hazard are finally considered in a dynamic context. |
- Kursverantwortliche/r: Samuel Bagshaw
- Kursverantwortliche/r: Florin Bucsa
- Kursverantwortliche/r: Hai Yen Bui
- Kursverantwortliche/r: Yuen Ying Chan
- Kursverantwortliche/r: Saizhina Daneeva
- Kursverantwortliche/r: Thi Duyen Do
- Kursverantwortliche/r: Sophie Felice Dreyhsig
- Kursverantwortliche/r: Timm Philipp Dusemund
- Kursverantwortliche/r: Nadine Faina Elkan
- Kursverantwortliche/r: Nico Feil
- Kursverantwortliche/r: Francisca Félix
- Kursverantwortliche/r: Capucine Fischer
- Kursverantwortliche/r: Fabian Förster
- Kursverantwortliche/r: Lidia Gerosa
- Kursverantwortliche/r: Daria Gold
- Kursverantwortliche/r: Ludger Anton Gumb
- Kursverantwortliche/r: Regine Hallmann
- Kursverantwortliche/r: Jay HE
- Kursverantwortliche/r: Henrik Heinen
- Kursverantwortliche/r: Jan-Felix Lukas Heymann
- Kursverantwortliche/r: Lars Irmscher
- Kursverantwortliche/r: Symbat Khalitova
- Kursverantwortliche/r: Marco Nicolas Kirchherr
- Kursverantwortliche/r: Sabrina Maike Kirste
- Kursverantwortliche/r: Henriette Kirsten
- Kursverantwortliche/r: Nathanael Kleinhans
- Kursverantwortliche/r: David Knoll
- Kursverantwortliche/r: Khrystyna Korotkova
- Kursverantwortliche/r: Julian Kühn
- Kursverantwortliche/r: Dominik Kunze
- Kursverantwortliche/r: Leonie Aliyah Kusch
- Kursverantwortliche/r: Dahyun Kwon
- Kursverantwortliche/r: Luning Li
- Kursverantwortliche/r: Lara Madre
- Kursverantwortliche/r: Daniel Malarski
- Kursverantwortliche/r: Aleksandar Malkoc
- Kursverantwortliche/r: Dai Meng
- Kursverantwortliche/r: Goekce Meric
- Kursverantwortliche/r: Richard Mertens
- Kursverantwortliche/r: Ani Mkrtumyan
- Kursverantwortliche/r: Grigorii Molchanov
- Kursverantwortliche/r: Maria Mueller
- Kursverantwortliche/r: Ha My Nguyen
- Kursverantwortliche/r: Lam Anh Tho Nguyen
- Kursverantwortliche/r: Arushi Parashar
- Kursverantwortliche/r: Jeong Eun Park
- Kursverantwortliche/r: Paul Elia Pawlik
- Kursverantwortliche/r: Klaudio Plaku
- Kursverantwortliche/r: Dan Plischke
- Kursverantwortliche/r: Leonard Felix Pust
- Kursverantwortliche/r: Sanmathi Rao
- Kursverantwortliche/r: Dilip Ravindran
- Kursverantwortliche/r: Seif Said
- Kursverantwortliche/r: Timofey Nicholas Schroeder
- Kursverantwortliche/r: Tatjana Smoljar
- Kursverantwortliche/r: Hannah Elizabeth Smyth
- Kursverantwortliche/r: Lana Solovej
- Kursverantwortliche/r: Margarita Tavkazakova
- Kursverantwortliche/r: Oya Tükel
- Kursverantwortliche/r: Nisal Shakya Walpola
- Kursverantwortliche/r: Theresa Wernke-Schmiesing
- Kursverantwortliche/r: Johan Winter
- Kursverantwortliche/r: Hannes Wissmann
- Kursverantwortliche/r: Caizhen Xiong
- Kursverantwortliche/r: Meng Yang