A reformulation of the maxmin expected utility model with application to agency theory

B-Tier
Journal: Journal of Mathematical Economics
Year: 2009
Volume: 45
Issue: 1-2
Pages: 97-112

Score contribution per author:

2.011 = (α=2.01 / 1 authors) × 1.0x B-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

Invoking the parameterized distribution formulation of agency theory, the paper develops axiomatic foundations of the principal's and agent's choice behaviors that are representable by the maximization of the minimum expected utility over action-dependent sets of priors. In the context of this model, the paper also discusses some implications of ambiguity aversion for the design of optimal incentive schemes.

Technical Details

RePEc Handle
repec:eee:mateco:v:45:y:2009:i:1-2:p:97-112
Journal Field
Theory
Author Count
1
Added to Database
2026-01-25