3 papers
q-fin.TR2011
Efficiency and Equilibria in Games of Optimal Derivative Design
Ulrich Horst, Santiago Moreno-Bromberg
In this paper the problem of optimal derivative design, profit maximization and risk minimization under adverse selection when multiple agencies compete for the business of a conti…
q-fin.TR2011
Pollution permits, Strategic Trading and Dynamic Technology Adoption
Santiago Moreno-Bromberg, Luca Taschini
This paper analyzes the dynamic incentives for technology adoption under a transferable permits system, which allows for strategic trading on the permit market. Initially, firms ca…
cs.CE2007
Risk Minimization and Optimal Derivative Design in a Principal Agent Game
U. Horst, S. Moreno
We consider the problem of Adverse Selection and optimal derivative design within a Principal-Agent framework. The principal's income is exposed to non-hedgeable risk factors arisi…