HAZARD MORAL MODELS WITH THREE STATES OF NATURE
Journal Title: Journal of Applied Quantitative Methods - Year 2011, Vol 6, Issue 1
Abstract
The paper analyses a moral hazard model with three states of nature. The model is solved using as variables the informational rents and effort levels. Finally, we determine the features of the optimal contracts in asymmetric information.
Authors and Affiliations
Daniela MARINESCU, Dumitru MIRON
Keywords
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