The paper derives the optimal organizational response of a bank (the principal) which faces a risk of collusion between the credit manager (the agent) and the credit-seeking firms. The bank can deter collusion either through internal incentives or by distorting the credit contracts. The model thus explicitly takes into account the interaction between internal (collusion) risks and external (def...

IN ACTUALITY, THE DISCIPLINE of functional genomics deals with the science and art of phenotyping. Identifying the genetic bases for complex integrated systems, as well as complex diseases, relies on the validity and accuracy of the “trait measurement.” Any trait, real or erroneous, may be mapped, whether in humans or animal models. Such errors in quantitative trait locus mapping, or even gene ...