Residual claimant


Residual claimant

In economics, the residual claimant is the agent who receives the net income (income after deducting all costs).

Residual claimancy is generally required in order for there to be Moral Hazard, which is a problem typical of information asymmetry. This is specifically the case for the Principal-agent problem. [Bowles, Samuel (2004) Microeconomics: Behavior, Institutions and Evolution, Russell Sage Foundation, New York] [Samuel Bowles and Herbert Gintis, Mutual Monitoring in Teams: The Effects of Residual Claimancy and Reciprocity, citeseer.ist.psu.edu/bowles98mutual.html Article specifically attempts to understand residual claimancy and its effects on cooperation.]

References


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