Incomplete information, incentive compatibility, and the core

Article Abstract:

Research was conducted to examine the core of an economy with incomplete information. The assumption was that the only possible restrictions on enforcing a contract are those that arise from the presence of incomplete information. It was attempted to either incorporate incentive compatibility in the work of R. Wilson or to introduce coalitional contracts in the notion of incentive efficiency by B. Holmstrom and R. Myerson. Results demonstrate that while there are some special cases wherein the incentive compatible core is non-empty, this is not generally true.

Commercial agents

---

Pollution claim settlements under correlated information

Article Abstract:

A random-variable model, based on the ex ante budget balance principle, was designed in an effort to evaluate the impact of negative externalities to pollution claim settlements. The proposed model proved that correlated relationships that exist among agents tend to influence the implementability constraints of a pollution project. It was further established that as the degree of correlation increase among agents, the more projects become socially feasible.

Property & Liability Insurance, Direct Property and Casualty Insurance Carriers, Surety insurance, Models, Analysis, Economic aspects, Property and casualty insurance, Econometrics, Insurance agents, Pollution liability insurance

---

Repeated insurance relationships in a costly state verification model: with an application to deposit insurance

Article Abstract:

An optimal auditing strategy was formulated in response to the problem of a risk neutral insurer who engages into a repeated relationship with a group of risk averse agents. The strategy involves an optimum contract in which the insurer provides complete or no insurance in the second period. In providing complete insurance, the insurer must clarify reports of low income levels.

Insurance policies, Deposit insurance

Similar abstracts:

• Abstracts: Import competition, government subsidies, and trade with developing countries. The evolution and goals of lending to developing countries by the Bank for International Settlements
• Abstracts: The Fisher information measure and testing market expectations. Asset specificity and the fear of exploitation
• Abstracts: Competitivity in auction markets: an experimental and theoretical investigatioin. Risk-return measures of hedging effectiveness: the case of multiple cash andfutures markets
• Abstracts: Hollywood for the 21st century: global competition for critical mass in image markets. The status of women and the quality of life among the poor
• Abstracts: The market structure of the US aluminum industry. Attitudes on race, culture and discrimination in mortgage lending

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.