Seminar series
Date
Thu, 23 May 2019
Time
13:00 -
14:00
Location
L4
Speaker
Hanqing Jin
Organisation
(Oxford University)
We investigate monotone solutions of the moral hazard problems without the monotone likelihood ratio property. The solutions are explicitly characterised by a concave envelope relaxation approach for a two-action model in which the principal is risk neutral or exhibits constant absolute risk aversion.