منابع مشابه
Empty Promises and Arbitrage
Analysis of absence of arbitrage normally ignores payoffs in states to which the agent assigns zero probability. We extend the fundamental theorem of asset pricing to the case of “no empty promises” in which the agent cannot promise arbitrarily large payments in some states. There is a superpositive pricing rule that can assign positive price to claims in zero probability states important to th...
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We study optimal contracting in team settings, featuring stylized aspects of production environments with complex tasks. Agents have many opportunities to shirk, task-level monitoring is needed to provide useful incentives, and because it is difficult to write individual performance into formal contracts, incentives are provided informally, using wasteful sanctions like guilt and shame, or slow...
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We study optimal contracting in a team setting with moral hazard, where teammates promise to complete socially efficient but costly tasks. Teammates must monitor each other to provide incentives, but each team member has limited capacity to allocate between monitoring and productive tasks. Players incur contractual punishments for unfulfilled promises that are discovered. We show that optimal c...
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The global fight against HIV/AIDS continues to pose challenges: infection rates are on the rise in many settings, stigma and discrimination remain rampant, and the global response is under increasing financial pressure. There is a high risk of losing what has been achieved so far in the fight against HIV and AIDS, but also the momentum to meet the so-called Fast Track targets for 2030. In light...
متن کاملAmnesty International's Empty Promises: Decriminalization, Prostituted Women, and Sex Trafficking
Through a close examination of Amnesty International’s (Amnesty) own arguments and sources, this paper demonstrates that Amnesty’s proposal to decriminalize prostitution or “sex work” will harm those it claims to help. It concludes that the best available evidence indicates that decriminalization of prostitution would: increase sex trafficking, leave prostituted women or “sex workers” more vuln...
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ژورنال
عنوان ژورنال: The Journal of Clinical Endocrinology & Metabolism
سال: 2016
ISSN: 0021-972X,1945-7197
DOI: 10.1210/jc.2016-1080