in the securitization process, by selling the mortgage loans to risk-lover investors, originator can allocate the mortgage loans risk to them. in this case, originator may not have an incentive to screen out borrowers, resulting in the moral hazard problem. this paper, within a principal-agent framework, analyzes this agency problem. investor, to reduce asymmetric information, uses compensation...

The artist’s projects under the category of practice Animal Lover converge on questions and critiques addressing modern relationships with animals, and how humans regard animals. The objectives of Animal Lover are to creatively investigate how the use of image and sound, might offer engaged experiences thereby questioning millennia worth of representations contributing to detrimental relationsh...