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Creating countervailing incentives through the choice of instruments
[[Créer des incitations contraires à travers le choix des instruments de régulation]]

Author

Listed:
  • Philippe Bontems

    (Station d'économie et sociologie rurales - INRA - Institut National de la Recherche Agronomique)

  • J.M. Bourgeon

    (Inconnu)

Abstract
Cet article analyse l'efficacité relative de contrats basés soit sur la production soit sur l'effort dans un modèle d'agence avec antisélection. Selon le taux marginal de substitution entre effort et productivité, deux cas apparaissent. Dans le premier, les deux contrats impliquent un même ordre des agents selon leur productivité. Dans ce cas, un des instruments domine toujours l'autre quel que soit le type de l'agent. Dans le second cas, les deux contrats produisent des ordres inverses pour le type de l'agent, et le principal préfère toujours employer une stratégie mixte dépendante du paramètre de productivité sur l'ensemble des deux contrats. S'il n'existe pas de restriction sur les stratégies mixtes, le principal peut atteindre le premier rang dans ce cadre d'antisélection. Si le principal est contraint à utiliser des stratégies pures, il préfère néanmoins offrir un contrat où la nature de la variable de contrôle dépend de la productivité de l'agent. En d'autres termes, offrir un ensemble de contrats où l'agent peut choisir l'instrument de contrôle permet d'améliorer le bien-être du principal.

Suggested Citation

  • Philippe Bontems & J.M. Bourgeon, 2000. "Creating countervailing incentives through the choice of instruments [[Créer des incitations contraires à travers le choix des instruments de régulation]]," Post-Print hal-02689372, HAL.
    • Handle: RePEc:hal:journl:hal-02689372
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    References listed on IDEAS

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    Cited by:

    1. Shin, Dongsoo & Yun, Sungho, 2023. "Information acquisition and countervailing incentives," Journal of Mathematical Economics, Elsevier, vol. 107(C).
    2. Doyoung Kim & Jacques Lawarrée, 2009. "On the Information-Gathering Role of Firm-Sponsored Training for New Hires," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 165(2), pages 281-306, June.
    3. Khalil, Fahad & Lawarree, Jacques, 2001. "Catching the agent on the wrong foot: ex post choice of monitoring," Journal of Public Economics, Elsevier, vol. 82(3), pages 327-347, December.
    4. Crepin, Anne-Sophie & Jayet, Pierre-Alain, 2002. "Set-Aside versus Quotas in Contracts for Agro-Environmental Regulation," 2002 International Congress, August 28-31, 2002, Zaragoza, Spain 24950, European Association of Agricultural Economists.
    5. Chalkley, Martin & Khalil, Fahad, 2005. "Third party purchasing of health services: Patient choice and agency," Journal of Health Economics, Elsevier, vol. 24(6), pages 1132-1153, November.
    6. Chiroleu-Assouline, Mireille & Poudou, Jean-Christophe & Roussel, Sébastien, 2018. "Designing REDD+ contracts to resolve additionality issues," Resource and Energy Economics, Elsevier, vol. 51(C), pages 1-17.
    7. Kuhn, Michael & Siciliani, Luigi, 2007. "Performance Indicators for Quality with Adverse Selection, Gaming and Inequality Aversion," CEPR Discussion Papers 6261, C.E.P.R. Discussion Papers.
    8. Panico, Claudio, 2012. "Control and contract design in research collaborations: A complete contract perspective," International Journal of Industrial Organization, Elsevier, vol. 30(5), pages 459-470.
    9. Marcello D'Amato & Riccardo Martina & Salvatore Piccolo, 2005. "Competitive Pressure, Incentives and Managerial Rewards," CSEF Working Papers 148, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy, revised 01 Jul 2006.
    10. Aguirre Pérez, Iñaki & Beitia Ruiz de Mendarozqueta, María Aranzazu, 2014. "Countervailing incentives in adverse selection models. A synthesis," IKERLANAK info:eu-repo/grantAgreeme, Universidad del País Vasco - Departamento de Fundamentos del Análisis Económico I.
    11. Sheriff, Glenn, 2008. "Optimal environmental regulation of politically influential sectors with asymmetric information," Journal of Environmental Economics and Management, Elsevier, vol. 55(1), pages 72-89, January.

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