Evidence on the relationship between incentives and exogenous risk
Autor(a) principal: | |
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Data de Publicação: | 2002 |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Repositório Institucional do FGV (FGV Repositório Digital) |
Texto Completo: | http://hdl.handle.net/10438/12974 |
Resumo: | Theoretical models on moral hazard provide competing predictions on the incentive-risk relationship. These predictions are derived under the assumptions of homogeneous agents and exogenous risk. However, the existing empirical evidence does not account for risk-aversion heterogeneity and risk endogeneity. This paper uses a well-built database on tenancy contracts to address these issues. Detailed information on cropping activities is used to measure the exogenous risk. Risk-aversion heterogeneity and other self-selection problems are addressed through a portfolio schedule and a subsample of farmers who simultaneously own and sharecrop different farms. This controlled exercise finds a direct relation between incentives and exogenous risk. |
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Braido, Luís Henrique BertolinoEscolas::EPGEFGV2014-12-23T12:25:12Z2014-12-23T12:25:12Z2002-09-26http://hdl.handle.net/10438/12974Theoretical models on moral hazard provide competing predictions on the incentive-risk relationship. These predictions are derived under the assumptions of homogeneous agents and exogenous risk. However, the existing empirical evidence does not account for risk-aversion heterogeneity and risk endogeneity. This paper uses a well-built database on tenancy contracts to address these issues. Detailed information on cropping activities is used to measure the exogenous risk. Risk-aversion heterogeneity and other self-selection problems are addressed through a portfolio schedule and a subsample of farmers who simultaneously own and sharecrop different farms. This controlled exercise finds a direct relation between incentives and exogenous risk.engFundação Getulio Vargas. Escola de Pós-graduação em EconomiaSeminários de Almoço da EPGETodo cuidado foi dispensado para respeitar os direitos autorais deste trabalho. Entretanto, caso esta obra aqui depositada seja protegida por direitos autorais externos a esta instituição, contamos com a compreensão do autor e solicitamos que o mesmo faça contato através do Fale Conosco para que possamos tomar as providências cabíveisinfo:eu-repo/semantics/openAccessTenancyRiskPrincipalDataIncentivesDelegationAgentEconomiaRisco (Economia)Evidence on the relationship between incentives and exogenous riskinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articlereponame:Repositório Institucional do FGV (FGV Repositório Digital)instname:Fundação Getulio Vargas (FGV)instacron:FGVORIGINAL000346878-b814ev.pdf000346878-b814ev.pdfapplication/pdf584174https://repositorio.fgv.br/bitstreams/1229a3fe-10e2-424e-971f-9dbe2f90d65b/downloada95e51eeb81139c0429fb695313cf469MD51LICENSElicense.txtlicense.txttext/plain; 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dc.title.eng.fl_str_mv |
Evidence on the relationship between incentives and exogenous risk |
title |
Evidence on the relationship between incentives and exogenous risk |
spellingShingle |
Evidence on the relationship between incentives and exogenous risk Braido, Luís Henrique Bertolino Tenancy Risk Principal Data Incentives Delegation Agent Economia Risco (Economia) |
title_short |
Evidence on the relationship between incentives and exogenous risk |
title_full |
Evidence on the relationship between incentives and exogenous risk |
title_fullStr |
Evidence on the relationship between incentives and exogenous risk |
title_full_unstemmed |
Evidence on the relationship between incentives and exogenous risk |
title_sort |
Evidence on the relationship between incentives and exogenous risk |
author |
Braido, Luís Henrique Bertolino |
author_facet |
Braido, Luís Henrique Bertolino |
author_role |
author |
dc.contributor.unidadefgv.por.fl_str_mv |
Escolas::EPGE |
dc.contributor.affiliation.none.fl_str_mv |
FGV |
dc.contributor.author.fl_str_mv |
Braido, Luís Henrique Bertolino |
dc.subject.eng.fl_str_mv |
Tenancy Risk Principal |
topic |
Tenancy Risk Principal Data Incentives Delegation Agent Economia Risco (Economia) |
dc.subject.por.fl_str_mv |
Data Incentives Delegation Agent |
dc.subject.area.por.fl_str_mv |
Economia |
dc.subject.bibliodata.por.fl_str_mv |
Risco (Economia) |
description |
Theoretical models on moral hazard provide competing predictions on the incentive-risk relationship. These predictions are derived under the assumptions of homogeneous agents and exogenous risk. However, the existing empirical evidence does not account for risk-aversion heterogeneity and risk endogeneity. This paper uses a well-built database on tenancy contracts to address these issues. Detailed information on cropping activities is used to measure the exogenous risk. Risk-aversion heterogeneity and other self-selection problems are addressed through a portfolio schedule and a subsample of farmers who simultaneously own and sharecrop different farms. This controlled exercise finds a direct relation between incentives and exogenous risk. |
publishDate |
2002 |
dc.date.issued.fl_str_mv |
2002-09-26 |
dc.date.accessioned.fl_str_mv |
2014-12-23T12:25:12Z |
dc.date.available.fl_str_mv |
2014-12-23T12:25:12Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10438/12974 |
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http://hdl.handle.net/10438/12974 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.ispartofseries.por.fl_str_mv |
Seminários de Almoço da EPGE |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.publisher.none.fl_str_mv |
Fundação Getulio Vargas. Escola de Pós-graduação em Economia |
publisher.none.fl_str_mv |
Fundação Getulio Vargas. Escola de Pós-graduação em Economia |
dc.source.none.fl_str_mv |
reponame:Repositório Institucional do FGV (FGV Repositório Digital) instname:Fundação Getulio Vargas (FGV) instacron:FGV |
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