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Handbook of the Economics of Risk and Uncertainty
book

Handbook of the Economics of Risk and Uncertainty

by Mark Machina, W. Kip Viscusi
November 2013
Beginner content levelBeginner
896 pages
35h 10m
English
North Holland
Content preview from Handbook of the Economics of Risk and Uncertainty
Uncertainty and Imperfect Information in Markets
265
situations of hidden-information agency and moral hazard, respectively).
2
The next
subsection briefly discusses some other areas of the literature that are being ignored,
along with citations for readers interested in those areas.
Beyond that next subsection, the rest of the chapter is divided as follows: Section 6.2
considers situations in which the contract proposer is the ignorant party. Her problem
is to design a mechanism that induces her counter party, who is exogenously endowed
with his information, to reveal that information in such a way that maximizes the con-
tract proposer’s expected ...
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Publisher Resources

ISBN: 9780444536853