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Risk aversion and the Pareto frontier of a dynamic principal-agent model: an evolutionary approximation
(Centro de Investigación y Docencia Económicas, División de Economía, 2011)
In this paper we formulate an infinitely repeated Principal-Agent relationship as a Multi-Objective Optimization problem. We numerically approximate the solution of this model using a Multi-Objective Optimization Evolutionary ...
Deposit insurance, bank competition and risk taking
(Centro de Investigación y Docencia Económicas, División de Economía, 2006)
We analyse risk-taking behaviour of banks in the context of a model based
on spatial competition. Banks mobilise deposits by offering deposit rates.
We show that when the market concentration is low, banks invest in ...