Article

Large Risks, Limited Liability, and Dynamic Moral Hazard

Bruno Biais, Thomas Mariotti, Jean-Charles Rochet, and Stéphane Villeneuve

JEL codes

  • C61: Optimization Techniques • Programming Models • Dynamic Analysis
  • D82: Asymmetric and Private Information • Mechanism Design
  • D86: Economics of Contract: Theory
  • D92: Intertemporal Firm Choice, Investment, Capacity, and Financing

Replaces

Bruno Biais, Thomas Mariotti, Jean-Charles Rochet, and Stéphane Villeneuve, Large Risks, Limited Liability and Dynamic Moral Hazard, IDEI Working Paper, n. 472, August 2007, revised September 2009.

Published in

Econometrica, vol. 78, n. 1, January 2010, pp. 73–118