A general lagrangian approach for non-concave moral hazard problems

Detalhes bibliográficos
Autor(a) principal: Araújo, Aloísio Pessoa de
Data de Publicação: 2001
Outros Autores: Moreira, Humberto Ataíde
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Institucional do FGV (FGV Repositório Digital)
Texto Completo: http://hdl.handle.net/10438/501
Resumo: We establish a general Lagrangian for the moral hazard problem which generalizes the well known first order approach (FOA). It requires that besides the multiplier of the first order condition, there exist multipliers for the second order condition and for the binding actions of the incentive compatibility constraint. Some examples show that our approach can be useful to treat the finite and infinite state space cases. One of the examples is solved by the second order approach. We also compare our Lagrangian with 1\1irrlees'.
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spelling Araújo, Aloísio Pessoa deMoreira, Humberto AtaídeEscolas::EPGEFGV2008-05-13T15:25:21Z2010-09-23T18:57:03Z2008-05-13T15:25:21Z2010-09-23T18:57:03Z2001-06-010104-8910http://hdl.handle.net/10438/501We establish a general Lagrangian for the moral hazard problem which generalizes the well known first order approach (FOA). It requires that besides the multiplier of the first order condition, there exist multipliers for the second order condition and for the binding actions of the incentive compatibility constraint. Some examples show that our approach can be useful to treat the finite and infinite state space cases. One of the examples is solved by the second order approach. We also compare our Lagrangian with 1\1irrlees'.engEscola de Pós-Graduação em Economia da FGVEnsaios Econômicos;426A general lagrangian approach for non-concave moral hazard problemsinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleEconomiaEconomiaLagrange, Equações dereponame:Repositório Institucional do FGV (FGV Repositório Digital)instname:Fundação Getulio Vargas (FGV)instacron:FGVinfo:eu-repo/semantics/openAccessTEXT1275.pdf.txt1275.pdf.txtExtracted Texttext/plain52158https://repositorio.fgv.br/bitstreams/d40bfbc0-f520-4ca4-a859-d6ec6609ba9b/download8b774122296a31cf1c85c9bed7c022d6MD531275(2).pdf.txt1275(2).pdf.txtExtracted texttext/plain53251https://repositorio.fgv.br/bitstreams/155a1b0f-b3b8-4b48-8e89-6865ed47181c/download05a0894b35c83e2275516ed4dcfd902bMD59ORIGINAL1275(2).pdf1275(2).pdfapplication/pdf7687861https://repositorio.fgv.br/bitstreams/ae62f04b-f9df-435a-88c9-ee4cb7e454c8/downloadec31d127831d7371530c945a22a307f7MD54THUMBNAIL1275(2).pdf.jpg1275(2).pdf.jpgGenerated Thumbnailimage/jpeg4446https://repositorio.fgv.br/bitstreams/2b9a09c6-3e03-4ebe-b20a-d959146ff34b/download3b94a3fba0bc6e8bd8b56fc56824470fMD51010438/5012023-11-09 17:24:32.1open.accessoai:repositorio.fgv.br:10438/501https://repositorio.fgv.brRepositório InstitucionalPRIhttp://bibliotecadigital.fgv.br/dspace-oai/requestopendoar:39742023-11-09T17:24:32Repositório Institucional do FGV (FGV Repositório Digital) - Fundação Getulio Vargas (FGV)false
dc.title.eng.fl_str_mv A general lagrangian approach for non-concave moral hazard problems
title A general lagrangian approach for non-concave moral hazard problems
spellingShingle A general lagrangian approach for non-concave moral hazard problems
Araújo, Aloísio Pessoa de
Economia
Economia
Lagrange, Equações de
title_short A general lagrangian approach for non-concave moral hazard problems
title_full A general lagrangian approach for non-concave moral hazard problems
title_fullStr A general lagrangian approach for non-concave moral hazard problems
title_full_unstemmed A general lagrangian approach for non-concave moral hazard problems
title_sort A general lagrangian approach for non-concave moral hazard problems
author Araújo, Aloísio Pessoa de
author_facet Araújo, Aloísio Pessoa de
Moreira, Humberto Ataíde
author_role author
author2 Moreira, Humberto Ataíde
author2_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 Araújo, Aloísio Pessoa de
Moreira, Humberto Ataíde
dc.subject.area.por.fl_str_mv Economia
topic Economia
Economia
Lagrange, Equações de
dc.subject.bibliodata.por.fl_str_mv Economia
Lagrange, Equações de
description We establish a general Lagrangian for the moral hazard problem which generalizes the well known first order approach (FOA). It requires that besides the multiplier of the first order condition, there exist multipliers for the second order condition and for the binding actions of the incentive compatibility constraint. Some examples show that our approach can be useful to treat the finite and infinite state space cases. One of the examples is solved by the second order approach. We also compare our Lagrangian with 1\1irrlees'.
publishDate 2001
dc.date.issued.fl_str_mv 2001-06-01
dc.date.accessioned.fl_str_mv 2008-05-13T15:25:21Z
2010-09-23T18:57:03Z
dc.date.available.fl_str_mv 2008-05-13T15:25:21Z
2010-09-23T18:57:03Z
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/10438/501
dc.identifier.issn.none.fl_str_mv 0104-8910
identifier_str_mv 0104-8910
url http://hdl.handle.net/10438/501
dc.language.iso.fl_str_mv eng
language eng
dc.relation.ispartofseries.por.fl_str_mv Ensaios Econômicos;426
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.publisher.none.fl_str_mv Escola de Pós-Graduação em Economia da FGV
publisher.none.fl_str_mv Escola de Pós-Graduação em Economia da FGV
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