kaal:claim:7322599-016

Every delegation-misconduct case is organized by two parameters: whether unsanctioned misconduct retains or ends the relationship, and whether the unsanctioned stake is recovered or captive.

Two parameters organize every case: whether unsanctioned misconduct retains the rela- tionship (in place) or ends it (exit), and whether the unsanctioned stake is recovered or captive.

Wulf A. Kaal, Refundable Stake Does Not Expand Deterrent Capacity in Long-Lived Delegation: Collateral, Premia, and Pseudonymous Markets (2026), 6 The regime map and the capacity prediction, p. 8
https://ssrn.com/abstract=7322599 · source PDF

Wulf A. Kaal, Refundable Stake Does Not Expand Deterrent Capacity in Long-Lived Delegation: Collateral, Premia, and Pseudonymous Markets (2026). SSRN: https://ssrn.com/abstract=7322599

• the paper's two-by-two regime map

definitionalsupport: arguedinstitutional-designrisk-and-incentiveseconomics

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