The paper studies insurance with moral hazard in a system of contingent-claims markets. Insurance buyers are modelled as Cournot monopolists or oligopolists. The other agents condition their expectations on market prices, as in models of rational-expectations equilibrium with asymmetric information. Thereby they correctly anticipate accident probabilities corresponding to effort incentives indu...

Formal financial institutions failed to reach the poorer sections of the rural society due to informational asymmetry, moral hazard and enforcement problems. The necessity of having alternative rural credit systems which will solve the problems of rural credit institutions is clearly warranted. Micro finance institutions are seen to have characteristics that help solve the problems moral hazard...

When thinking about ethics, technology is often only mentioned as the source of our problems, not as a potential solution to our moral dilemmas. When thinking about technology, ethics is often only mentioned as a constraint on developments, not as a source and spring of innovation. In this paper, we argue that ethics can be the source of technological development rather than just a constraint a...

This paper provides the framework for a payment plan based on inspection results in the delegation of inspection agencies. The paper deals with two cases—that in which one inspector checks the quality of the inspection object (e.g., a design drawing of building) and that in which two inspectors check it simultaneously. The paper points out the applicability of a penalty only in the framework wi...

The “spanning condition”describes a situation where the agent’s e¤ort determines the weights placed on two distinct technologies. Su¢ cient conditions are known under which the …rst-order approach (FOA) is valid when the spanning condition holds. In this paper, a complete solution to the problem is provided. Thus, the problem is solved even in cases where the FOA is not valid. The solution has ...

anonymous referee for helpful comments and criticism.

moral hazards are the result of an expansive range of factors mostly originating in the patients’ roles. the objective of the present study was to investigate patient incentives for moral hazards using the experiences of experts of basic iranian insurance organizations. this was a qualitative research. data were collected through semi-structured interviews. the study population included all exp...

Moral text processing was used as an ecologically valid method for assessing implicit and explicit moral understanding and development. The authors tested undergraduates, seminarians, and graduate students in political science and philosophy for recall of moral narratives and moral expository texts. Multivariate analyses of covariance using educational experience as an independent variable, age...

In a recent response to Persson and Savulescu's Unfit for the Future, Nicholas Agar argues that moral bioenhancement is dangerous. His grounds for this are that normal moral judgement should be privileged because it involves a balance of moral subcapacities; moral bioenhancement, Agar argues, involves the enhancement of only particular moral subcapacities, and thus upsets the balance inherent i...

Moral text processing was used as an ecologically valid method for assessing implicit and explicit moral understanding and development. The authors tested undergraduates, seminarians, and graduate students in political science and philosophy for recall of moral narratives and moral expository texts. Multivariate analyses of covariance using educational experience as an independent variable, age...