The Principal Agent Model The Economic Theory of Incentives

Laffont, Jean-Jacques (Editor)

ISBN 10: 1843762404 / ISBN 13: 9781843762409

Published by Edward Elgar Pub, 2003

illustrated edition. 720 pages. 9.75x6.75x2.25 inches. In Stock. Seller Inventory # __1843762404

Synopsis:

Incentive theory is the most important development in economics in the last forty years. The principal-agent model is the core of this theory. This authoritative collection brings together the essential literature concerning the principal-agent model when no restrictions on the design of the principal's contract exist in terms of complexity, enforcement or rationality.

Part I covers the foundations of the principal-agent theory from the first historical formulation of the problem to the first attempts to formalize it. Part II deals with the case of moral hazard and adverse selection is the topic of Part III. Part IV presents contributions on current research issues such as the impact of communication constraints, endogenous information structures and multidimensional incentive problems.

The Principal Agent Model will be an indispensable reference source for all students, researchers and professionals specialising in this subject.

About the Author: Edited by the late Jean-Jacques Laffont, Formerly Professor of Economics, Université des Sciences Sociales de Toulouse, France and University of Southern California, US

Bibliographic Details

Title: The Principal Agent Model The Economic ...
Publisher: Edward Elgar Pub
Publication Date: 2003
Binding: Hardcover
Condition: Brand New