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Resum
The theory of incentives and matching theory can complement each other. In particular, matching theory can be a tool for analyzing optimal incentive contracts within a general equilibrium framework. We propose several models that study the endogenous payoffs of principals and agents as a function of the characteristics of all the market participants, as well as the joint attributes of the principal–agent pairs that partner in equilibrium. Moreover, considering each principal–agent relationship as part of a market may strongly influence our assessment of how the characteristics of the principal and the agent affect the optimal incentive contract. Finally, we discuss the effect of the existence of moral hazard on the nature of the matching between principals and agents that we may observe at equilibrium, compared to the matching that would happen if incentive concerns were absent.
Idioma original | Anglès |
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Revista | SERIEs |
Volum | 12 |
Número | 1 |
DOIs | |
Estat de la publicació | Publicada - de març 2021 |
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Navegar pels temes de recerca de 'Agency theory meets matching theory'. Junts formen un fingerprint únic.Projectes
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Análisis teórico y empírico del comportamiento de individuos y empresas con especial énfasis en innovación, salud y el mercado digital
Perez Castrillo, J. D. (PI), Macho Stadler, I. (Investigador/a), Martínez Giralt, X. (Investigador/a), Olivella, P. (Investigador/a), Piolatto, A. (Investigador/a) & Stockler Barbosa, G. G. (Col.laborador/a)
Ministerio de Ciencia e Innovación (MICINN)
1/01/19 → 30/09/22
Projecte: Projectes i Ajuts a la Recerca