We analyze how the agent’s initial wealth affects the principal’s expected profits in the standard principal-agent model with moral hazard. We show that if the principal prefers a poorer agent for all specifications of action sets, probability distributions, and disutility of effort, then the agent’s utility of income must exhibit a coefficient of absolute prudence less than three times the coe...

We investigate Horty’s action constants and their functioning in action obligations of the form “In the interest of group F of agents, group G of agents ought to perform action K” and in conditional action obligations of the form “If group H of agents performs action L, then in the interest of group F of agents, group G of agents ought to perform action K”. We show that a straightforward Horty-...

The objective of this study was to determine the distribution of selected metal concentrations (Cd, Pb, Cr and Fe) in the muscles of five fish species (Sander lucioperca, Liza auratus, Alosa caspia, Cyprinus carpio and Liza saliens) from Gorgan Bay the south-eastern Caspian Sea, in order to assess health risk to the human via fish consumption by graphite furnace atomic absorption spectrophotome...

Background: Fire and explosion hazards are extremely important in processing units. This study was performed to identify the risk centers, the potential damage caused by fire and explosion, and the days of production cessation in the processing company. Materials and Methods: The present qualitative case study was conducted using Dow’s index in 2015. The fire and explosion hazard index...

residential location choice modeling is one of the areas in transportation planning that attempts to examine households location search behavior incorporating their trade-offs between housing quality, prices or rents, distance to work and other key factors. this brings up the need to come up with methods to logically allocate credible choice alternatives for individuals.this article attempts to...