Please use this identifier to cite or link to this item:
http://dspace.mediu.edu.my:8181/xmlui/handle/10261/1919| Title: | A Dual Characterization of Incentive Efficiency |
| Keywords: | Asymmetric information Incentive efficiency Linear programming Duality |
| Description: | We show that incentive efficient allocations in economies with adverse selection and moral hazard can be determined as optimal solutions to a linear programming problem and we use duality theory to obtain a complete characterization of the optima. Our dual analysis identifies welfare effects associated with the incentives of the agents to truthfully reveal their private information. Because these welfare effects may generate non-convexities, incentive efficient allocations may involve randomization. Other properties of incentive efficient allocations are also derived. |
| URI: | http://dspace.mediu.edu.my:8181/xmlui/handle/10261/1919 |
| Other Identifiers: | http://hdl.handle.net/10261/1919 |
| Appears in Collections: | Digital Csic |
Files in This Item:
There are no files associated with this item.
Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.