Income fluctuation and asymmetric information: An example of a repeated principal-agent problem
作者： Jonathan Thomas , Tim Worrall
DOI: 10.1016/0022-0531(90)90023-D
关键词:
摘要: … We examine a simple repeated principal-agent model with discounting. There are a risk averse borrower with an unobservable random income and a risk neutral lender. The efficient …
ed.ac.uk
elsevier.com
researchgate.net 
sci-hub.se 参考文章(12)
SANFORD GROSSMAN, DAVID LEVHARI, LEONARD J. MIRMAN, Consumption under Uncertainty General Equilibrium, Growth, and Trade#R##N#Essays in Honor of Lionel Mckenzie. pp. 105- 124 ,(1979) , 10.1016/B978-0-12-298750-2.50011-3
Menahem E Yaari, A law of large numbers in the theory of consumer's choice under uncertainty Journal of Economic Theory. ,vol. 12, pp. 202- 217 ,(1976) , 10.1016/0022-0531(76)90074-0
Geoffrey R. Grimmett, David Stirzaker, Probability and random processes ,(1982)
Stephen E. Spear, Sanjay Srivastava, On Repeated Moral Hazard with Discounting The Review of Economic Studies. ,vol. 54, pp. 599- 617 ,(1987) , 10.2307/2297484
Ben Lockwood, Jonathan Thomas, Asymptotic efficiency in principal-agent models with hidden information Economics Letters. ,vol. 30, pp. 297- 301 ,(1989) , 10.1016/0165-1765(89)90081-5
Jonathan Thomas, Tim Worrall, Self-Enforcing Wage Contracts The Review of Economic Studies. ,vol. 55, pp. 541- 554 ,(1988) , 10.2307/2297404
Franklin Allen, Repeated principal-agent relationships with lending and borrowing Economics Letters. ,vol. 17, pp. 27- 31 ,(1985) , 10.1016/0165-1765(85)90121-1
Marjorie A. Flavin, The Adjustment of Consumption to Changing Expectations about Future Income Journal of Political Economy. ,vol. 89, pp. 974- 1009 ,(1981) , 10.1086/261016
Robert M. Townsend, Optimal Multiperiod Contracts and the Gain from Enduring Relationships under Private Information Journal of Political Economy. ,vol. 90, pp. 1166- 1186 ,(1982) , 10.1086/261116
Oliver D. Hart, Optimal Labour Contracts under Asymmetric Information: An Introduction The Review of Economic Studies. ,vol. 50, pp. 3- 35 ,(1983) , 10.2307/2296952