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Adverse selection, moral hazard and propitious selection

✍ Scribed by Philippe De Donder; Jean Hindriks

Publisher
Springer
Year
2008
Tongue
English
Weight
429 KB
Volume
38
Category
Article
ISSN
0895-5646

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πŸ“œ SIMILAR VOLUMES

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## SUMMARY We use invoices for hospital services from a regional hospital in Croatia to test for adverse selection and moral hazard. There are three categories of patients: with no supplemental insurance, who bought it, and who are entitled to it for free. Our identification procedure relies on the

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## Abstract We extend the __strategic contract model__ where the owner designs incentive schemes for her manager before the latter takes output decisions. Firstly, we introduce private knowledge regarding costs __within__ each owner–manager pair. Under adverse selection, we show that delegation inv