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Behavioral Agency Model: A Target-Oriented Approach for Executive Incentives

Robert F Bordley, Francesca Culasso, Elisa Giacosa, Luisa Tibiletti
2014 Social Science Research Network  
With reference to the second goal involving the problem on how prevent moral hazard phenomena, we suggest to insert an event-linked option.  ...  To explicit the agent subjective value function we suggest an interactive graphical method proposed by Goldstein and Rothschild (2014) based on the Distribution Builder (see Sharpe et al., 2000).  ...  In Decision Theory under uncertainty that problem is solved ranking all possible acts defined on a given state space.  ... 
doi:10.2139/ssrn.2426151 fatcat:gspd7wsszndztiuovmnvi7nfhu

Moral-hazard-free insurance: mean-variance premium principle and rank-dependent utility [article]

Zuo Quan Xu
2021 arXiv   pre-print
The insurance problem is first formulated as a non-concave maximization problem involving Choquet expectation, then turned into a concave quantile optimization problem and finally solved by calculus of  ...  This study exams a Pareto optimal insurance problem, where the insured maximizes her rank-dependent utility and the insurer employs the mean-variance premium principle.  ...  In fact, the first-type quantile optimization problem can be solved by a simple relaxation method. See Xu [30] and Hou and Xu [15] for the development of the relaxation method.  ... 
arXiv:2108.06940v1 fatcat:wptzuw46jvb7rct34oxzwxok2a

Establishment of Natural Hazards Mapping Criteria Using Analytic Hierarchy Process (AHP)

Florentino F. Morales, Walter Timo de Vries
2021 Frontiers in Sustainability  
The MCE technique compares the relative merits of different spatially related criteria following the Analytic Hierarchy Process (AHP) through pair-wise comparisons of criteria by experts and the decision-makers  ...  Despite the large number of studies on natural hazards mapping and modeling, an increasing number of disasters still occur worldwide.  ...  ACKNOWLEDGMENTS The authors wish to acknowledge the Commission on Higher Education (CHED) and Visayas State University (VSU) of the Philippines, and the Technical University of Munich (TUM) in Germany  ... 
doi:10.3389/frsus.2021.667105 fatcat:jlgyrsyiinadpbace3hy6gidie

Entrepreneurial Exporting Strategies: Contractual Considerations

Andrew Zacharakis
1970 Journal of business strategies  
The paper develops these problems within the entrepreneur/export agent realm and suggests contractual methods for overcoming these problems.  ...  AT illuminates the underpinnings of these relationships; in particular, highlighting problems and risks that the respective parties face when entering into the partnership.  ...  A common method of solving this contract dichotomy is bonding.  ... 
doi:10.54155/jbs.15.2.73-90 fatcat:oelzhozvb5avhb6kp4hime2x2i

Page 5234 of Mathematical Reviews Vol. , Issue 85k [page]

1985 Mathematical Reviews  
Rogerson, William P. (1-VAPI) Repeated moral hazard. Econometrica 53 (1985), no. 1, 69-76.  ...  Unlike the previous approach, the proposed algorithm does not require explicit ranking of securities.  ... 

Solving Civil Engineering Problems by Means of Fuzzy and Stochastic MCDM Methods: Current State and Future Research

Jurgita Antucheviciene, Zdeněk Kala, Mohamed Marzouk, Egidijus Rytas Vaidogas
2015 Mathematical Problems in Engineering  
The review is focused on formal methods of multiple criteria decision-making (MCDM). Handling of uncertainty by means of fuzzy logic and probabilistic modelling is analysed in light of MCDM.  ...  The present review examines decision-making methods developed for dealing with uncertainties and applied to solve problems of civil engineering.  ...  Acknowledgment The part of the paper done by the author from Czech Republic has been worked out under Project no. LO1408 "AdMAs UP."  ... 
doi:10.1155/2015/362579 fatcat:ks4boboz5zaqdakn45hk5v6bmy

Pirates as an Idea

Umme Abida, Paul Hitchens, Bibi Laegaard, Sheldon Rozario
2008 Deakin Papers on International Business Economics  
The captured ships are being closely watched by hundreds of pirates aboard boats equipped with satellite phones and GPS devices.  ...  Hundreds mo re gunmen provide back-up on shore, where they incessantly chew the narcotic leaf 'qat' and dream of sharing in the huge ransoms that can run into millions of dollars.  ...  Historically on merchant vessels the interest of the owner and the captain were aligned to overcome the principal/agent problem and minimize moral hazard issues, by appointing the captains through familial  ... 
doi:10.21153/dpibe2008vol1no2art202 fatcat:k663r3gzevaptnlcxrgwxrsc6q

The Effect of Risk on the CEO Market

Alex Edmans, Xavier Gabaix
2011 The Review of financial studies  
This article presents a market equilibrium model of CEO assignment, pay, and incentives under risk aversion and moral hazard.  ...  In the presence of moral hazard, assignment is distorted from positive assortative matching on firm size as firms with higher risk or disutility choose less talented CEOs.  ...  We now derive closed-form expressions for both sources of inefficiency to analyze the cost of the moral hazard problem, even when it is fully solved by contracts.  ... 
doi:10.1093/rfs/hhq153 fatcat:p5aw7cnzinaypbjb7xpdqffd3u

Identifying and Testing Models of Managerial Compensation

George-Levi Gayle, Robert A. Miller
2015 The Review of Economic Studies  
by resorting to a taste based explanation where managerial preferences depend on the outlook of his ...rm relative to those of his rivals; indeed the CEO would be willing to pay for the privilege of working  ...  for the ...rm in the bad state under the pure moral hazard speci...cation.  ...  From Lemma 2.1 the problem shareholders solve at is identical to the short term optimization problem solved in the text.  ... 
doi:10.1093/restud/rdv004 fatcat:dhi6u2d6onh45lu6akh4mx2mby

Deposit insurance: a reconsideration

John H. Boyd, Chun Chang, Bruce D. Smith
2002 Journal of Monetary Economics  
is always undesirable. (3) "Large" FDIC losses are necessarily symptomatic of a poorly designed deposit insurance system. (4) Risk-based deposit insurance premia can easily be used to reduce moral hazard  ...  problems associated with deposit insurance provision.  ...  the moral hazard problems created by deposit insurance schemes.  ... 
doi:10.1016/s0304-3932(02)00143-5 fatcat:rsseakp6fbbxznmxw6s64vwxve

Empirical study of the National Health Service in U.K. and the U.S. Medical Care System

Kai Xie
2012 International Journal of Financial Research  
Heath insurance makes people better off by reducing the uncertainties. Problems specifically adverse selection and moral hazard inevitably exist in the market.  ...  Another problem is the moral hazard. When people have insurance, they tend to be less careful about their health status increasing their demands of the health care service.  ...  <Figure 3 about here> Excess Demand due to Moral Hazard In insurance-based health care systems, the problem of potential 'excess' demand exists because of moral hazard, which has consumer side and supply  ... 
doi:10.5430/ijfr.v3n1p33 fatcat:ssxi6x2brjenxnob2motspw7tu

Political Risk in Syndicated Lending: Theory and Empirical Evidence Regarding the Use of Project Finance

Christa Hainz, Stefanie Kleimeier
2004 Social Science Research Network  
We develop a double moral hazard model that predicts that the use of project finance increases with both the political risk of the country in which the project is located and the influence of the lender  ...  In contrast, the use of project finance should decrease as the economic health and corporate governance provisions of the borrower's home country improve.  ...  First, we must study which type of contract solves the bank' s moral hazard problem, then we must analyze which loan contract solves the firm' s moral hazard problem.  ... 
doi:10.2139/ssrn.567112 fatcat:zsrozdzy6famhi3xjchbfid4cq

Project Finance as a Risk-Management Tool in International Syndicated Lending

Christa Hainz, Stefanie Kleimeier
2008 Social Science Research Network  
We develop a double moral hazard model that predicts that the use of project finance increases with both the political risk of the country in which the project is located and the influence of the lender  ...  In contrast, the use of project finance should decrease as the economic health and corporate governance provisions of the borrower's home country improve.  ...  First, we must study which type of contract solves the bank' s moral hazard problem, then we must analyze which loan contract solves the firm' s moral hazard problem.  ... 
doi:10.2139/ssrn.1360662 fatcat:iky5h4mkd5aaxoeihzhwicsybu

Tax Expenditures, Principal Agent Problems, and Redundancy

David A. Weisbach
2006 Social Science Research Network  
For example, it considers whether tax expenditures can reduce moral hazard or adverse selection problems created by delegations to expert agencies.  ...  The Article then examines the example of the low-income housing tax credit, concluding that the credit should be replaced with a direct expenditure in the form of increased tenant vouchers.  ...  moral hazard problems.  ... 
doi:10.2139/ssrn.912735 fatcat:lurv6fchovcxfcxc4dxgmiohiq

Neophobia and social facilitation in narrow-striped mongooses

Bako N Rasolofoniaina, Peter M Kappeler, Claudia Fichtel
2020 Animal Cognition  
Hence, narrow-striped mongooses rely on social facilitation and local or stimulus enhancement to solve new problems.  ...  Here, we contribute comparative data on social learning strategies in carnivorans by examining whether narrow-striped mongooses (Mungotictis decemlineata), a group-living Malagasy euplerid, learn socially  ...  We appreciate the collaboration with the Département de Biologie Animale of the University of Antananarivo, the Ministère de l´Environnement, de l´Ecologie, de la Mer et des Forêts and the CNFEREF Morondava  ... 
doi:10.1007/s10071-020-01429-5 pmid:32955622 fatcat:2kr55wflcfbilotiniupgwxvh4
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