Slide 1Optimal Contracts under Moral Hazard Slide 2 What does it mean Moral Hazard? We will use much more often the notion of Moral Hazard as hidden action rather than ex-post…
Slide 1 The economics of fishery management The role of economics in fishery regulation Slide 2 Simple model of fish biology time Biomass (x) x “Carrying Capacity” x…
Slide 1 1 Open access resource economics Why the free market fails to protect resources Slide 2 2 Motivation Group Project: Otters eating lots of shellfish, south of Pt.…