The Theory of Contracts

E680269
academic paper work in contract theory work in economics

The Theory of Contracts is a foundational work in contract theory and economics that analyzes how optimal contracts can be designed under conditions of asymmetric information and incentive problems.

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Label Occurrences
The Theory of Contracts canonical 1

Statements (47)

Predicate Object
instanceOf academic paper ⓘ
work in contract theory ⓘ
work in economics ⓘ
addresses commitment issues in contracts ⓘ
hidden action problems ⓘ
hidden information problems ⓘ
renegotiation and enforcement issues in contracts ⓘ
analyzes how to design optimal contracts under asymmetric information ⓘ
incentive compatibility constraints ⓘ
participation constraints ⓘ
risk sharing in contracts ⓘ
screening mechanisms ⓘ
signaling in contractual relationships ⓘ
trade‑offs between risk and incentives ⓘ
appliesTo financial contracts ⓘ
industrial organization ⓘ
insurance contracts ⓘ
labor contracts ⓘ
regulation and public policy design ⓘ
contributesTo information economics literature ⓘ
modern contract theory ⓘ
theory of incentives ⓘ
field contract theory ⓘ
information economics ⓘ
microeconomics ⓘ
focusesOn design of contracts under private information ⓘ
implementation of socially desirable outcomes via contracts ⓘ
optimal allocation of risk and effort ⓘ
relationships between principals and agents ⓘ
goal to align incentives between contracting parties ⓘ
to characterize optimal contracts under asymmetric information ⓘ
to mitigate inefficiencies caused by private information ⓘ
mainTopic adverse selection ⓘ
asymmetric information ⓘ
incentive problems ⓘ
incomplete contracts ⓘ
mechanism design ⓘ
moral hazard ⓘ
optimal contract design ⓘ
principal–agent problems ⓘ
usesConcept Pareto efficiency ⓘ
adverse selection models ⓘ
incentive compatibility ⓘ
information rents ⓘ
moral hazard models ⓘ
participation constraints ⓘ
screening ⓘ

Referenced by (1)

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Bengt Holmström (studies, later MIT) → notableWork → The Theory of Contracts ⓘ
subject surface form: Bengt Holmström