Please use this identifier to cite or link to this item:
|Title:||Common agency with risk-averse agent|
|Citation:||Semenov, A. (2010). Common agency with risk-averse agent. Journal of Mathematical Economics 46 (1) : 38-49. ScholarBank@NUS Repository. https://doi.org/10.1016/j.jmateco.2009.06.009|
|Abstract:||In a common agency model with a risk-averse agent and private information distortion in the equilibrium policy from the first-best is greater compared to the case of a risk-neutral agent. The principals are unable to screen completely the agent's preferences if he is sufficiently risk-averse: there is bunching in the contract. The contribution schedules keep track of informational externality. However, when the coefficient of risk-aversion goes to zero the contributions become truthful as in the complete information case. © 2009 Elsevier B.V. All rights reserved.|
|Source Title:||Journal of Mathematical Economics|
|Appears in Collections:||Staff Publications|
Show full item record
Files in This Item:
There are no files associated with this item.
checked on Jun 23, 2018
WEB OF SCIENCETM
checked on May 28, 2018
checked on Jun 8, 2018
Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.