Moral Hazard and Bargaining Power

摘要: Abstract. We introduce bargaining power in a moral hazard framework where parties are risk-neutral and the agent is financially constrained. show that same contract emerges if concept of analyzed either following three frameworks: standard principal2013agent (P2013A) by varying agent's outside opportunity, an alternating offer game, generalized Nash-bargaining game. However, for sufficiently low levels power, increasing it marginally does affect equilibrium but not P2013A model