The Theory of Incentives: The Principal-Agent Model
by Jean-Jacques Laffont, David Martimort
A rigorous introduction to incentive theory using the principal-agent model, exploring contract design and information asymmetries in economics.
About This Book
This book presents the principal-agent model as a core framework for analyzing incentive problems.
It covers contract theory and the design of mechanisms to align interests between parties.
The text examines moral hazard, adverse selection, and related issues in economic relationships.
Readers gain insight into formal modeling techniques used in modern microeconomic theory.
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