Demougin, Dominique ; Helm, Carsten (2006)
Moral Hazard and Bargaining Power.
In: German Economic Review, 7 (4)
Artikel, Bibliographie
Kurzbeschreibung (Abstract)
Abstract. We introduce bargaining power in a moral hazard framework where parties are risk-neutral and the agent is financially constrained. We show that the same contract emerges if the concept of bargaining power is analyzed in either of the following three frameworks: in a standard principal2013agent (P2013A) framework by varying the agent's outside opportunity, in an alternating offer game, and in a generalized Nash-bargaining game. However, for sufficiently low levels of the agent's bargaining power, increasing it marginally does affect the equilibrium in the Nash-bargaining game, but not in the P2013A model and in the alternating offer game.
| Typ des Eintrags: | Artikel |
|---|---|
| Erschienen: | 2006 |
| Autor(en): | Demougin, Dominique ; Helm, Carsten |
| Art des Eintrags: | Bibliographie |
| Titel: | Moral Hazard and Bargaining Power |
| Sprache: | Englisch |
| Publikationsjahr: | 2006 |
| Titel der Zeitschrift, Zeitung oder Schriftenreihe: | German Economic Review |
| Jahrgang/Volume einer Zeitschrift: | 7 |
| (Heft-)Nummer: | 4 |
| URL / URN: | http://dx.doi.org/10.1111/j.1468-0475.2006.00130.x |
| Kurzbeschreibung (Abstract): | Abstract. We introduce bargaining power in a moral hazard framework where parties are risk-neutral and the agent is financially constrained. We show that the same contract emerges if the concept of bargaining power is analyzed in either of the following three frameworks: in a standard principal2013agent (P2013A) framework by varying the agent's outside opportunity, in an alternating offer game, and in a generalized Nash-bargaining game. However, for sufficiently low levels of the agent's bargaining power, increasing it marginally does affect the equilibrium in the Nash-bargaining game, but not in the P2013A model and in the alternating offer game. |
| Fachbereich(e)/-gebiet(e): | 01 Fachbereich Rechts- und Wirtschaftswissenschaften > Volkswirtschaftliche Fachgebiete > Angewandte Mikroökonomik und Institutionenökonomik 01 Fachbereich Rechts- und Wirtschaftswissenschaften > Volkswirtschaftliche Fachgebiete 01 Fachbereich Rechts- und Wirtschaftswissenschaften |
| Hinterlegungsdatum: | 28 Apr 2009 14:05 |
| Letzte Änderung: | 05 Mär 2013 09:19 |
| PPN: | |
| Export: | |
| Suche nach Titel in: | TUfind oder in Google |
 |
Frage zum Eintrag |
Optionen (nur für Redakteure)
 |
Redaktionelle Details anzeigen |
Drucken
Impressum