Kräkel, Matthias (April 2007): Limited Liability and the Trade-off between Risk and Incentives. SFB/TR 15 Discussion Paper No. 201 |
| 144kB |
Abstract
Several empirical findings have challenged the traditional trade-off between risk and incentives. By combining risk aversion and limited liability in a standard principal-agent model the empirical puzzle on the positive relationship between risk and incentives can be explained.
Dokumententyp: | Paper (Discussion Paper) |
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Keywords: | limited liability, piece rates, risk aversion, risk-incentives trade-off |
Fakultät: | Sonderforschungsbereiche > Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems
Sonderforschungsbereiche > Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems > B4 - Die Gestaltung von Turnieren im Rahmen der Corporate Governance |
Themengebiete: | 300 Sozialwissenschaften > 330 Wirtschaft |
JEL Classification: | D01, D82, J3, M5 |
URN: | urn:nbn:de:bvb:19-epub-13351-9 |
Sprache: | Englisch |
ID: | 13351 |
Letzte Änderungen: | 31. Aug. 2018 12:47 |
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