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Régulation par la production ou par l'intrant en présence d'incertitude

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  • Philippe Bontems
  • Jean-Marc Bourgeon

Abstract

This paper deals with the relative efficiency of output versus input incentives schemes in a static principal-agent model with both moral hazard and adverse selection. We define conditions that allow us to extend the result obtained by Maskin and Riley [1985] on the superiority of output contingent contract to the stochastic production setting.

Suggested Citation

  • Philippe Bontems & Jean-Marc Bourgeon, 1996. "Régulation par la production ou par l'intrant en présence d'incertitude," Annals of Economics and Statistics, GENES, issue 43, pages 181-193.
    • Handle: RePEc:adr:anecst:y:1996:i:43:p:181-193
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    References listed on IDEAS

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    1. Guesnerie, Roger & Laffont, Jean-Jacques, 1984. "A complete solution to a class of principal-agent problems with an application to the control of a self-managed firm," Journal of Public Economics, Elsevier, vol. 25(3), pages 329-369, December.
    2. B. Caillaud & R. Guesnerie & P. Rey, 1992. "Noisy Observation in Adverse Selection Models," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 59(3), pages 595-615.
    3. Maskin, Eric & Riley, John, 1985. "Input versus output incentive schemes," Journal of Public Economics, Elsevier, vol. 28(1), pages 1-23, October.
    4. Khalil Fahad & Lawarree Jacques, 1995. "Input versus Output Monitoring: Who Is the Residual Claimant?," Journal of Economic Theory, Elsevier, vol. 66(1), pages 139-157, June.
    5. repec:adr:anecst:y:1992:i:25-26:p:09 is not listed on IDEAS
    6. Claude Crampes, 1986. "Des instruments pour le contrôle des entreprises publiques," Revue Économique, Programme National Persée, vol. 37(5), pages 757-782.
    7. Myerson, Roger B., 1982. "Optimal coordination mechanisms in generalized principal-agent problems," Journal of Mathematical Economics, Elsevier, vol. 10(1), pages 67-81, June.
    8. Guesnerie, Roger & Picard, Pierre & Rey, Patrick, 1989. "Adverse selection and moral hazard with risk neutral agents," European Economic Review, Elsevier, vol. 33(4), pages 807-823, April.
    9. Liang Zou, 1992. "Threat-Based Implementation of Incentive Compatible Mechanisms," Annals of Economics and Statistics, GENES, issue 25-26, pages 189-204.
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