Footnote:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments July 8, 2021 erstellt
Description:
We consider a principal-agent model where the principal can monitor and punish the agent with a fine if the agent is caught being non-compliant. To reduce the probability of being verified, the agent can engage in costly avoidance. We design the optimal regulatory policies with and without avoidance