scholarly journals The First-Order Approach to Moral Hazard Problems with Hidden Saving

2010 ◽  
Author(s):  
Sebastian Koehne
Keyword(s):  
Moral Hazard ◽  
First Order

scholarly journals The no‐upward‐crossing condition, comparative statics, and the moral‐hazard problem

2020 ◽  
Vol 15 (2) ◽  
pp. 445-476
Author(s):  
Hector Chade ◽  
Jeroen Swinkels
Keyword(s):  
Moral Hazard ◽  
Sufficient Conditions ◽  
Comparative Statics ◽  
Decision Problems ◽  
Exponential Families ◽  
First Order ◽  
Extensive Analysis ◽  
Moral Hazard Problem ◽  
Economic Interpretation ◽  
Parameterized Family

We define and explore no‐upward‐crossing (NUC), a condition satisfied by every parameterized family of distributions commonly used in economic applications. Under smoothness assumptions, NUC is equivalent to log‐supermodularity of the negative of the derivative of the distribution with respect to the parameter. It is characterized by a natural monotone comparative static and is central in establishing quasi‐concavity in a family of decision problems. As an application, we revisit the first‐order approach to the moral‐hazard problem. NUC simplifies the relevant conditions for the validity of the first‐order approach and gives them an economic interpretation. We provide extensive analysis of sufficient conditions for the first‐order approach for exponential families.

scholarly journals On the validity of the first-order approach with moral hazard and hidden assets

2014 ◽  
Vol 124 (3) ◽  
pp. 402-405 ◽  
Author(s):  
Giuseppe Bertola ◽  
Winfried Koeniger
Keyword(s):  
Moral Hazard ◽  
First Order

On the moral hazard problem without the first-order approach

2013 ◽  
Vol 148 (6) ◽  
pp. 2313-2343 ◽  
Author(s):  
Ohad Kadan ◽  
Jeroen M. Swinkels
Keyword(s):  
Moral Hazard ◽  
First Order ◽  
Moral Hazard Problem

Dual systems for all: Higher-order, role-based relational reasoning as a uniquely derived feature of human cognition

2019 ◽  
Vol 42 ◽  
Author(s):  
Daniel J. Povinelli ◽  
Gabrielle C. Glorioso ◽  
Shannon L. Kuznar ◽  
Mateja Pavlic
Keyword(s):  
Temporal Reasoning ◽  
Higher Order ◽  
Important Case ◽  
Human Cognition ◽  
Relational Reasoning ◽  
Dual Systems ◽  
First Order ◽  
Reasoning System ◽  
Role Based

Abstract Hoerl and McCormack demonstrate that although animals possess a sophisticated temporal updating system, there is no evidence that they also possess a temporal reasoning system. This important case study is directly related to the broader claim that although animals are manifestly capable of first-order (perceptually-based) relational reasoning, they lack the capacity for higher-order, role-based relational reasoning. We argue this distinction applies to all domains of cognition.

Stochasting modeling of planetary ring systems

1984 ◽  
Vol 75 ◽  
pp. 461-469 ◽  
Author(s):  
Robert W. Hart
Keyword(s):  
Maximum Entropy ◽  
Ring System ◽  
The Sun ◽  
Ultimate State ◽  
Interparticle Interactions ◽  
Ring Systems ◽  
First Order ◽  
Planetary Ring ◽  
Insight Into

ABSTRACTThis paper models maximum entropy configurations of idealized gravitational ring systems. Such configurations are of interest because systems generally evolve toward an ultimate state of maximum randomness. For simplicity, attention is confined to ultimate states for which interparticle interactions are no longer of first order importance. The planets, in their orbits about the sun, are one example of such a ring system. The extent to which the present approximation yields insight into ring systems such as Saturn's is explored briefly.

Morphological studies of linear (AB)n multiblock copolymers and their blends

1992 ◽  
Vol 50 (1) ◽  
pp. 384-385
Author(s):  
Richard J. Spontak ◽  
Steven D. Smith ◽  
Arman Ashraf
Keyword(s):  
Electron Microscopy ◽  
Microphase Separation ◽  
Multiblock Copolymers ◽  
First Order ◽  
Morphological Studies ◽  
Transmission Electron ◽  
First Order Phase Transition ◽  
Covalently Bonded ◽  
Total Molecular Weight ◽  
First Order Phase

Block copolymers are composed of sequences of dissimilar chemical moieties covalently bonded together. If the block lengths of each component are sufficiently long and the blocks are thermodynamically incompatible, these materials are capable of undergoing microphase separation, a weak first-order phase transition which results in the formation of an ordered microstructural network. Most efforts designed to elucidate the phase and configurational behavior in these copolymers have focused on the simple AB and ABA designs. Few studies have thus far targeted the perfectly-alternating multiblock (AB)n architecture. In this work, two series of neat (AB)n copolymers have been synthesized from styrene and isoprene monomers at a composition of 50 wt% polystyrene (PS). In Set I, the total molecular weight is held constant while the number of AB block pairs (n) is increased from one to four (which results in shorter blocks). Set II consists of materials in which the block lengths are held constant and n is varied again from one to four (which results in longer chains). Transmission electron microscopy (TEM) has been employed here to investigate the morphologies and phase behavior of these materials and their blends.

Exact First Order Finite Element Modeling for Eddy Current NDE

1991 ◽  
Vol 3 (1) ◽  
pp. 235-253 ◽  
Author(s):  
L. D. Philipp ◽  
Q. H. Nguyen ◽  
D. D. Derkacht ◽  
D. J. Lynch ◽  
A. Mahmood
Keyword(s):  
Finite Element ◽  
Finite Element Modeling ◽  
Eddy Current ◽  
Element Modeling ◽  
First Order ◽  
Eddy Current Nde
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