Semantic Scholar Open Access 2019 402 sitasi

Contract Theory

Alexandra Porenta S. Gerhold

Abstrak

2 Hidden Information, Screening 4 2.1 The Simple Economics of Adverse Selection . . . . . . . . . . . . . . . . . . 4 2.1.1 First-Best Outcome: Perfect Price Discrimination . . . . . . . . . . . 6 2.1.1.1 Comparison of type-specific contracts with each other . . . . 6 2.1.1.2 In case it’s been too long since you’ve last done a maximization problem . . . . . . . . . . . . . . . . . . . . . . . . . . 7 2.1.1.3 Mas-Colell et al. [1995] . . . . . . . . . . . . . . . . . . . . . 8 2.1.1.4 Just what is the single crossing condition, exactly? . . . . . 10 2.1.2 Adverse Selection, Linear Pricing, and Simple Two-Part Tariffs . . . 10 2.1.2.1 Linear Pricing . . . . . . . . . . . . . . . . . . . . . . . . . 10 2.1.2.2 Single Two-Part Tariff . . . . . . . . . . . . . . . . . . . . . 12 2.1.2.3 Did you forget the envelope theorem? . . . . . . . . . . . . . 12 2.1.3 Second-Best Outcome: Optimal Nonlinear Pricing Algorithm . . . . . 14 2.1.3.1 Comparison with the First Best . . . . . . . . . . . . . . . . 17 2.2 Application: Credit Rationing . . . . . . . . . . . . . . . . . . . . . . . . . . 19

Penulis (2)

Alexandra Porenta

S. Gerhold

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Porenta, A., Gerhold, S. (2019). Contract Theory. https://doi.org/10.5040/9781472560667.ch-016

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Informasi Jurnal

Tahun Terbit: 2019
Bahasa: en
Total Sitasi: 402×
Sumber Database: Semantic Scholar
DOI: 10.5040/9781472560667.ch-016
Akses: Open Access ✓