'Moral hazard' and 'adverse selection' in the context of maximisation of economic survival
Author(s): | prof. RNDr. Jiří Hlaváček CSc., PhDr. Michal Hlaváček Ph.D., |
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Type: | Articles in refereed journals |
Year: | 2008 |
Number: | 0 |
ISSN / ISBN: | |
Published in: | PSVS-EC-024 |
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Abstract: | This paper analyses problems within the asymmetric information models %28principal agent models) where we replace standard assumption of maximisation of expected income by maximisation of probability of economic survival. |