Incentive efficient risk sharing in a settlement mechanism

摘要: Abstract The purpose of this paper is to address a question concerning risk management in continuing, multi-party, contractual, clearing and settlement arrangements through which large-value payments are typically made. We particularly interested the issues incentive compatibility when third party possesses private information riskiness transfers being If that would be value determining how best settle payment, does exposure affect quality chooses provide? In paper, we by analyzing specific class parametric environments schematic, formal, model arrangement or payment network.