
Existence of solutions to principal–agent problems with adverse selection under minimal assumptions
Carlier, Guillaume; Zhang, Kelvin Shuangjian (2020), Existence of solutions to principal–agent problems with adverse selection under minimal assumptions, Journal of Mathematical Economics, 88, p. 64 - 71. 10.1016/j.jmateco.2020.03.002
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Article accepté pour publication ou publiéDate
2020Journal name
Journal of Mathematical EconomicsVolume
88Publisher
Elsevier
Pages
64 - 71
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Show full item recordAuthor(s)
Carlier, GuillaumeCEntre de REcherches en MAthématiques de la DEcision [CEREMADE]
Zhang, Kelvin Shuangjian
Département de Mathématiques et Applications - ENS Paris [DMA]
Abstract (EN)
We prove an existence result for the principal-agent problem with adverse selection under general assumptions on preferences and allo-cation spaces. Instead of assuming that the allocation space is finite-dimensional or compact, we consider a more general coercivity condi-tion which takes into account the principal’s cost and the agents’ pref-erences. Our existence proof is simple and flexible enough to adapt to partial participation models as well as to the case of type-dependent budget constraints.Subjects / Keywords
Principal-agent problems with adverse selection; Coercivity; Partial participation; Budget constraint.Related items
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