Moral hazard with limited liability: Random-variable formulation and optimal contract structures.

Wenbin Wang Shanshan Hu

Published in: Games Econ. Behav. (2021)

Keyphrases

moral hazard
random variables
principal agent
adverse selection
graphical models
probability distribution
mechanism design
bayesian networks
decision variables
optimal solution
dynamic programming
special case
construction project
joint probability distribution
fuzzy variable
stochastic dominance