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Risk Sharing, Risk Spreading and Efficient Regulation

Risk Sharing, Risk Spreading and Efficient Regulation

by T. V. S. Ramamohan Rao
Hardback
Publication Date: 04/11/2015

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The book provides an integrated approach to risk sharing, risk spreading and efficient regulation through principal agent models. It emphasizes the role of information asymmetry and risk sharing in contracts as an alternative to transaction cost considerations. It examines how contracting, as an institutional mechanism to conduct transactions, spreads risks while attempting consolidation. It further highlights the shifting emphasis in contracts from Coasian transaction cost saving to risk sharing and shows how it creates difficulties associated with risk spreading, and emphasizes the need for efficient regulation of contracts at various levels.

Each of the chapters is structured using a principal agent model, and all chapters incorporate adverse selection (and exogenous randomness) as a result of information asymmetry, as well as moral hazard (and endogenous randomness) due to the self-interest-seeking behavior on the part of the participants.

ISBN:
9788132225614
9788132225614
Category:
Science: general issues
Format:
Hardback
Publication Date:
04-11-2015
Language:
English
Publisher:
Springer
Country of origin:
United States
Dimensions (mm):
235x155mm
Weight:
5.91kg

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