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Optimal Delegation and Limited Awareness, with an Application to Financial Intermediation
16 references·0 citing·46 second hop
Optimal Delegation and Limited Awareness, with an Application to Financial Intermediation (2018)Optimal Delegation and Limited Awareness,…The Theory of Optimal Delegation With an Application to Tariff Caps (2013)The Theory of Optimal Delegat…The Safe-Asset Share (2012)The Safe-Asset ShareDiagnosing Consumer Confusion and Sub-Optimal Shopping Effort: Theory and Mortgage-Market Evidence (2012)Diagnosing Consumer Confusion…A Model of Delegated Project Choice (2010)A Model of Delegated Project …Optimal Delegation (2008)Optimal DelegationMaking Sense of the Subprime Crisis (2008)Making Sense of the Subprime …Financial Literacy and Stock Market Participation (2007)Financial Literacy and Stock …Awareness and Stock Market Participation (2005)Awareness and Stock Market Pa…Communication in Settings with No Transfers (1991)Communication in Settings wit…The market for information and the origin of financial intermediation (1990)The market for information an…Information Reliability and a Theory of Financial Intermediation (1984)Information Reliability and a…Financial Intermediation and Delegated Monitoring (1984)Financial Intermediation and …Equilibrium Price Dispersion (1983)Equilibrium Price DispersionInformational Asymmetries, Financial Structure, and Financial Intermediation (1977)Informational Asymmetries, Fi…Liquidity Preference as Behavior Towards Risk (1958)Liquidity Preference as Behav…PORTFOLIO SELECTION* (1952)PORTFOLIO SELECTION*INFORMATIONAL ASYMMETRIES, FINANCIAL STRUCTURE, AND FINANCIAL INTERMEDIATION (1977)On the Impossibility of Informationally Efficient Markets (1980)Disintermediation and the Role of Banks in Europe: An International Comparison (1999)Financial intermediation as a beliefs-bridge between optimists and pessimists (2004)Bank Competition And Financial Stability: Friends Or Foes? (2008)Information and Consumer Behavior (1970)A model of price adjustment (1971)The Economics of Information (1976)Social Networks and Labor-Market Outcomes: Toward an Economic Analysis (1991)Search-Theoretic Models of the Labor Market: A Survey (2005)International Economic Review (2010)The Theory of Industrial Organization (1988)Making democracy work: civic traditions in modern Italy (1993)Making Democracy Work: Civic Traditions in Modern Italy (1993)Economic Literacy: An International Comparison (2010)Household Finance: An Emerging Field (2013)Gender, stock market participation and financial literacy (2015)The Market for "Lemons": Quality Uncertainty and the Market Mechanism (1970)Moral Hazard and Observability (1979)Moral Hazard in Teams (1982)Can Relationship Banking Survive Competition? (2000)Relationship Banking: What Do We Know? (2000)The arbitrage theory of capital asset pricing (1976)Bank Runs, Deposit Insurance, and Liquidity (1983)The Benefits of Lending Relationships: Evidence from Small Business Data (1994)Financial Intermediation, Loanable Funds, and The Real Sector (1997)Trusting the Stock Market (2005)Household Finance (2006)Baby Boomer retirement security: The roles of planning, financial literacy, and housing wealth (2007)Financial literacy around the world: an overview (2011)Financial Literacy, Financial Education, and Downstream Financial Behaviors (2014)The Economic Importance of Financial Literacy: Theory and Evidence (2014)Strategic Information Transmission (1982)Multitask Principal–Agent Analyses: Incentive Contracts, Asset Ownership, and Job Design (1991)Formal and Real Authority in Organizations (1997)Mediation, arbitration and negotiation (2009)Discretion in Hiring* (2017)The Next Generation of Research on IS Use: A Theoretical Framework of Delegation to and from Agentic IS Artifacts (2021)EFFICIENT CAPITAL MARKETS: A REVIEW OF THEORY AND EMPIRICAL WORK* (1970)Risk, Return, and Equilibrium: Empirical Tests (1973)THE VALUATION OF RISK ASSETS AND THE SELECTION OF RISKY INVESTMENTS IN STOCK PORTFOLIOS AND CAPITAL BUDGETS**This paper is another in a series of interrelated theoretical and statistical studies of corporate financial and investment policies being made under grants from the Rockefeller Foundation, and more recently the Ford Foundation, to the Harvard Business School. The generous support for this work is most gratefully acknowledged. The author is also much indebted to his colleagues Professors Bishop, Christenson, Kahr, Raiffa, and (especially) Schlaifer, for extensive discussion and commentary on an earlier draft of this paper; but responsibility for any errors or imperfections remains strictly his own.[Professor Sharpe's paper, “Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk” (Journal of Finance, September 1964) appeared after this paper was in final form and on its way to the printers. My first section, which parallels the first half of his paper (with corresponding conclusions), sets the algebraic framework for sections II, III and VI, (which have no counterpart in his paper) and for section IV on the equilibrium prices of risk assets, concerning which our results differ significantly for reasons which will be explored elsewhere. Sharpe does not take up the capital budgeting problem developed in section V below.] (1975)Initial Public Offerings and Underwriter Reputation (1990)The Economic Consequences of Legal Origins (2008)Conditional value-at-risk for general loss distributions (2002)Optimal Versus Naive Diversification: How Inefficient is the 1/ N Portfolio Strategy? (2007)The relationship between corporate social responsibility and shareholder value: an empirical test of the risk management hypothesis (2008)
this work references cited by second hop

References

  • 1952PORTFOLIO SELECTION*13,480 cited
  • 1984Financial Intermediation and Delegated Monitoring8,393 cited
  • 1958Liquidity Preference as Behavior Towards Risk3,916 cited
  • 1977Informational Asymmetries, Financial Structure, and Financial Intermediation3,772 cited
  • 2007Financial Literacy and Stock Market Participation3,545 cited
  • 1983Equilibrium Price Dispersion1,288 cited
  • 1984Information Reliability and a Theory of Financial Intermediation1,162 cited
  • 2005Awareness and Stock Market Participation437 cited
  • 1990The market for information and the origin of financial intermediation432 cited
  • 2008Optimal Delegation360 cited
  • 2008Making Sense of the Subprime Crisis329 cited
  • 2012Diagnosing Consumer Confusion and Sub-Optimal Shopping Effort: Theory and Mortgage-Market Evidence284 cited
  • 1991Communication in Settings with No Transfers279 cited
  • 2012The Safe-Asset Share276 cited
  • 2013The Theory of Optimal Delegation With an Application to Tariff Caps206 cited
  • 2010A Model of Delegated Project Choice136 cited

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