We consider a principal-agent model with moral hazard where the agent’s knowledge about the performance measure is ambiguous and he is averse towards ambiguity. We show that the principal may optimally provide no incentives or contract only on a subset of all informative performance measures. That is, the Informativeness Principle does not hold in our model. These results stand in stark contras...

In this paper, I study the e¤ects of overcon…dence on incentive contracts in a moral-hazard framework in which principal and agent knowingly hold asymmetric beliefs regarding the probability of success of their enterprise. Agent overcon…dence can have con‡icting e¤ects on the equilibrium contract. On the one hand, an overcon…dent agent disproportionately values successcontingent payments, and t...

The recent global financial crisis may have lessons for ecologists. One driver of the problems many countries faced toward the end of the previous decade was risky speculation by larger banks (Okamoto, 2009). In cases where such investments succeed, the bank is the winner. When such investments fail they have the potential to ruin the bank. However, the largest banks are often deemed to be so i...

Would you go to the dentist more often if it were free? Observational data is here used to analyze the impact of full-coverage insurance on dental care utilization using di¤erent identi…cation strategies. The challenge of assessing the bite of moral hazard without an experimental study design is to separate it from adverse selection, as agents act on private and generally unobservable informati...

We propose a class of transformation hazard models for rightcensored failure time data. It includes the proportional hazards model (Cox) and the additive hazards model (Lin and Ying) as special cases. Due to the requirement of a nonnegative hazard function, multidimensional parameter constraints must be imposed in the model formulation. In the Bayesian paradigm, the nonlinear parameter constrai...

This thesis describes an approach to designing hazard avoidance alerting systems based on a Markov decision process (MDP) model of the alerting process, and shows its benefits over standard design methods. One benefit of the MDP method is that it accounts for future decision opportunities when choosing whether or not to alert, or in determining resolution guidance. Another benefit is that it pr...

Main results 0.40% of children were exposed to antiepileptic drugs during pregnancy; 0.08% were exposed to valproate. 0.83% of children were diagnosed with autism spectrum disorder during follow-up, including 0.32% with childhood autism. Use of valproate during pregnancy was associated with increased risk for autism spectrum disorder and childhood autism in offspring (Table). Other antiepilepti...

Calvacin is a potent, antitumor mucoprotein which is cumulative in effect and which causes a prolonged intoxication characterized by anorexia and extreme weight loss. It induces a wide spectrum of lesions in experimental mammals. The more promi nent include hepatic necrosis, biliary obstruction, renal tubular necrosis, fibrinoid degeneration, myofibrillar necrosis in cardiac and skeletal muscle...

The role of cefepime for extended-spectrum β-lactamase (ESBL) bacteremia is unclear if susceptible in vitro. In a propensity score-matched study of patients with ESBL bacteremia, risk of death was 2.87 times higher for patients receiving cefepime compared with carbapenems (95% confidence interval [CI], .88-9.41). We compared 14-day mortality of patients with ESBL bacteremia receiving empiric ce...

Increasing vehicle popularity and, in the meantime, traffic accidents, is one of the most important death factors these days. Many policies have been implemented to decrease accident injuries and damages, and to increase safety. Between three effective factors in accidents, including human, vehicle, and road, human factor is known as the most important one. Human behavior during driving is deri...