2020

向往——JOURNAL OF ECONOMIC THEORY:Who will watch the watchers? On optimal monitoring networks

时间:2020-02-20
Consider a moral hazard scenario in which a monitor must detect deviations to provide proper incentives to attain an efficient outcome. What if the monitor himself were to deviate after being bribed by his monitored subject? In this paper, I model a multi-agent public-good provision game in which each player prefers shirking to working in the absence of exogenous enforcement and can bribe those assigned to monitor him. I find that an optimally designed monitoring structure must have players arra
上一篇:武佳薇,汪昌云,陈紫琳,Jie Michael Guo——《金融研究》:中国个人投资者处置效应研究——一个非理性信念的视角 下一篇:黄勃,陈礼清,何林——EMERGING MARKETS FINANCE AND TRADE:How Can Government Support Affect Behaviors of Investors and Rating Agencies in a Corporate Bond Ma...
51 4684