This is the last Excel Homework and it is on the Shapiro-Stiglitz model.
This homework is on extensions of the basic Shapiro and Stiglitz model, with a particular focus on making the monitoring intensity a choice variable.
You should watch the video presentation of the basic model first. This is a full lecture on the math of the model. It takes about a half hour. (If you want the PowerPoint file, a link to it is in the description of the video.)
The actual Shapiro and Stiglitz paper.
The video that derives the equations in the paper.
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