Download or read book Do Tournaments Solve the Adverse Selection Problem written by Theofanis Tsoulouhas and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides a solution to a puzzle in the analysis of tournaments, that of why there is no agent discrimination in practice. The paper examines the problem of a principal contracting with multiple agents whose activities are subject to common shocks, when there is moral hazard and adverse selection. The presence of common shocks invites the use of relative performance evaluation to minimize the costs of moral hazard. But, in the additional presence of adverse selection, the analysis shows that at the optimum there may be no need for ex ante screening through menus of contract offers (i.e., for agent discrimination). This is so because the principal becomes better informed ex post about agent types, via the realization of common uncertainty, and can effectively penalize or reward the agents ex post. Thus, unlike the standard adverse selection problem without common uncertainty where the principal always benefits from ex ante screening, it is shown that ex post sorting through relative performance evaluation reduces the scope for ex ante screening through menus, and eliminates it completely if agents are known to not be very heterogeneous. This is consistent with observed practice in industries where the primary compensation mechanism is a cardinal tournament which is uniform among agents.
Download or read book Handbook of Labor Economics written by Orley Ashenfelter and published by Elsevier. This book was released on 2010-12-09 with total page 863 pages. Available in PDF, EPUB and Kindle. Book excerpt: A guide to the continually evolving field of labour economics.
Download or read book Auctioning Entry Into Tournaments written by Richard L. Fullerton and published by . This book was released on 1999 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: A research tournament model with heterogeneous contestants is presented. For a large class of contests the optimal number of contestants is two. This insight makes designing the tournament easier and highlights the importance of selecting highly qualified contestants. While customary uniform-price and discriminatory-price auctions are intuitively appealing mechanisms for solving this adverse selection problem, in practice they generally will not be efficient mechanisms for selecting contestants. Instead, we propose an alternative auction format that is equally simple to implement and efficiently selects the most qualified contestants to compete, regardless of the form of contestant heterogeneity.
Download or read book Tournament Approaches to Policy Reform written by Clifford F. Zinnes and published by Rowman & Littlefield. This book was released on 2010-10-01 with total page 394 pages. Available in PDF, EPUB and Kindle. Book excerpt: While much foreign aid achieves commendable goals, some is ineffective. In this volume, Clifford Zinnes argues that a donor's intrinsic informational limitations on the local context as well as inability to control the progress of interventions mean that lack of success is not rooting in insufficient funding but in maladapted institution designs of interventions that don't foster local ownership. He indentifies and assesses a newly emerging class of foreign aid delivery that promises to overcome these obstacles. The approach is based on "prospective inter-jurisdictional competition" (PIJC). Beneficiary groups—often local-level governments, supported by their private sector and civil society—act as teams and compete against each other under explicit predefined rules and objectives to design and implement interventions under their own aegis to achieve the highest quantitatively measured performance, either relative to others ("tournaments") or against a preset benchmark ("certification"). Teams that cooperate internally are the likeliest to win the rewards, which, aside from the longer run benefits of the intervention itself, might include more substantive financial or technical assitance from the sponsor. Since only groups serious about reforming choose to play, Zinnes says the incentives generated by the ensuing "race-to-the-top" competitiion create local ownership, encouraging recipients to draw on their own knowledge. Moreover, since all teams that compete—and not just those who "win" donor rewards—benefit from their own reform efforts, he argues that this approach can leverage aid resources more than a conventional bilateral aid agreement. Zinnes presents a dozen recent applications of the approach, including those sponsored by the World Bank, USAID, the United Nations, the Ford Foundation, and others. He also recommends improvements and ways to scale up PIJC-based projects in applications ranging from protecting the environment and reducing red tap
Download or read book The Labor Managed Firm written by Gregory K. Dow and published by Cambridge University Press. This book was released on 2018-04-05 with total page 431 pages. Available in PDF, EPUB and Kindle. Book excerpt: In previous work, Gregory K. Dow created a broad and accessible overview of worker-controlled firms. In his new book, The Labor-Managed Firm: Theoretical Foundations, Dow provides the formal models that underpinned his earlier work, while developing promising new directions for economic research. Emphasizing that capital is alienable while labor is inalienable, Dow shows how this distinction, together with market imperfections, explains the rarity of labor-managed firms. This book uses modern microeconomics, exploits up-to-date empirical research, and constructs a unified theory that accounts for many facts about the behavior, performance, and design of labor-managed firms. With a large number of entirely new chapters, comprehensive updating of earlier material, a critique of the literature, and policy recommendations, here Dow presents the capstone work of his career, encompassing more than three decades of theoretical research.
Download or read book Parallel Problem Solving from Nature PPSN VIII written by Xin Yao and published by Springer Science & Business Media. This book was released on 2004-09-13 with total page 1204 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book constitutes the refereed proceedings of the 8th International Conference on Parallel Problem Solving from Nature, PPSN 2004, held in Birmingham, UK, in September 2004. The 119 revised full papers presented were carefully reviewed and selected from 358 submissions. The papers address all current issues in biologically inspired computing; they are organized in topical sections on theoretical and foundational issues, new algorithms, applications, multi-objective optimization, co-evolution, robotics and multi-agent systems, and learning classifier systems and data mining.
Download or read book Game Theory for Next Generation Wireless and Communication Networks written by Zhu Han and published by Cambridge University Press. This book was released on 2019-06-27 with total page 509 pages. Available in PDF, EPUB and Kindle. Book excerpt: A unified treatment of the latest game theoretic approaches for designing, modeling, and optimizing emerging wireless communication networks. Covering theory, analytical tools, and applications, it is ideal for researchers and graduate students in academia and industry designing efficient, scalable and robust protocols for future wireless networks.
Download or read book Economics written by Richard Lipsey and published by . This book was released on 2020-03 with total page 789 pages. Available in PDF, EPUB and Kindle. Book excerpt: An illuminating and robust introduction to economics principles, the fourteenth edition of Lipsey and Chrystal's established textbook continues to provide complete coverage for those new to micro and macroeconomics.The authors help students to understand the subject matter through a combination of lucid explanation and supportive learning features which encourage independent thought. The principles are examined through a theoretical lens before empirical examples demonstrate how the concepts work in practice.The applied nature of the models is further emphasised by case studies from around the world, which encourage students to develop and contextualise their understanding of the key themes.Suitable for beginners, the authors provide in-depth explanations of key theoretical concepts which relate to a wide range of applied material. End-of-chapter questions give students the opportunity to test their knowledge and advance their critical thinking skills.Economics undergraduates studying a core module on the principles of economics. It may also be suitable for students taking business, management, or finance and accounting degrees who are taking a module which introduces economics.This book is accompanied by online resource to support both students and lecturers.For students:- Self-test questions- Flashcard glossary- Additional chapter material- Web linksFor lecturers:- PowerPoint slides- Instructor's manual- Test bank- Additional chapters covering Economics of Developing Countries and Macroeconomic Policy in an Open Economy
Download or read book Escape from the Market written by Michael Huberman and published by Cambridge University Press. This book was released on 1996-09-12 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt: At the outset of the industrial revolution the Lancashire labour market was a model of thoroughgoing competition. Wages adjusted quickly and smoothly to changes in the demand for and supply of labour. Within two generations, however, workers and firms had retreated from the market. Instead of busting wages, firms paid fixed rates; instead of breaking ties on short notice, workers sought longer-term associations. Social norms - doing the right thing - protected and preserved the fresh labour market arrangements. This book explains the causes and effects of changes in the labour market in the context of developments in labour economics and fresh research in social and economic history.
Download or read book Evolutionary Computation written by Wellington Santos and published by BoD – Books on Demand. This book was released on 2009-10-01 with total page 586 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents several recent advances on Evolutionary Computation, specially evolution-based optimization methods and hybrid algorithms for several applications, from optimization and learning to pattern recognition and bioinformatics. This book also presents new algorithms based on several analogies and metafores, where one of them is based on philosophy, specifically on the philosophy of praxis and dialectics. In this book it is also presented interesting applications on bioinformatics, specially the use of particle swarms to discover gene expression patterns in DNA microarrays. Therefore, this book features representative work on the field of evolutionary computation and applied sciences. The intended audience is graduate, undergraduate, researchers, and anyone who wishes to become familiar with the latest research work on this field.
Download or read book Handbooks of Management Accounting Research 3 Volume Set written by Christopher S. Chapman and published by Elsevier. This book was released on 2009-01-30 with total page 1584 pages. Available in PDF, EPUB and Kindle. Book excerpt: Winner of the Management Accounting section of the American Accounting Association notable contribution to Management Accounting Literature AwardVolume One of the Handbook of Management Accounting Research series sets the context for the Handbooks, with three chapters outlining the historical development of management accounting as a discipline and as a practice in three broad geographic settings.Volume Two provides insights into research on different management accounting practices. Volume Three features contributions from some of the most influential researchers in various areas of management accounting research, consolidates the content of volumes one and two, and concludes with examples of management accounting research from around the world.Volumes 1, 2 and 3 are also available as individual product. * ISBN Volume 1: 978-0-08-044564-9* ISBN Volume 2: 978-0-08-044754-4* ISBN Volume 3: 978-0-08-055450-1 Three volumes of the popular Handbooks of Management Accounting Research series now available in one complete set Examines particular management accounting practices and specific organizational contexts Adopts a global perspective of management accounting practice Award: "Winner of the Management Accounting section of the American Accounting Association notable contribution to Management Accounting Literature Award."
Download or read book Journal of Economic Literature written by and published by . This book was released on 1999 with total page 650 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Contract Theory for Wireless Networks written by Yanru Zhang and published by Springer. This book was released on 2017-02-15 with total page 131 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents theoretical research between wireless communications, networking, and economics using the framework of contract theory. This work fills a void in the literature by closely combining contract theoretical approaches with wireless networks design problems. Topics covered include classification in contract theory, reward design, adverse selection, and moral hazard. The authors also explore incentive mechanisms for device-to-device communication in cellular networks, insurance plans for service assurance in cloud computing markets with incomplete information, multi-dimensional incentive mechanisms and tournament based incentive mechanisms in mobile crowdsourcing. Financial applications include financing contracts with adverse selection for spectrum trading in cognitive radio networks and complementary investment of infrastructure and service providers in wireless network visualization. This book offers a useful reference for engineers and researchers in the wireless communication community who seek to integrate the notions from contract theory and wireless engineering, while emphasizing on how contract theory can be applied in wireless networks. It is also suitable for advanced-level students studying information systems or communications engineering.
Download or read book The Epistemology of Democracy written by Hana Samaržija and published by Taylor & Francis. This book was released on 2023-04-03 with total page 333 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the first edited scholarly collection devoted solely to the epistemology of democracy. Its fifteen chapters, published here for the first time and written by an international team of leading researchers, will interest scholars and advanced students working in democratic theory, the harrowing crisis of democracy, political philosophy, social epistemology, and political epistemology. The volume is structured into three parts, each offering five chapters. The first part, Democratic Pessimism, covers the crisis of democracy, the rise of authoritarianism, public epistemic vices, misinformation and disinformation, civic ignorance, and the lacking quantitative case for democratic decision-making. The second part, Democratic Optimism, discusses the role of hope and positive emotions in rebuilding democracy, proposes solutions to myside bias, and criticizes dominant epistocratic approaches to forming political administrations. The third and final part, Democratic Realism, assesses whether we genuinely require emotional empathy to understand the perspectives of our political adversaries, discusses the democratic tension between mutual respect for others and a quest for social justice, and evaluates manifold top-down and bottom-up approaches to policy making.
Download or read book Cryptoeconomics written by Jing Li and published by Cambridge University Press. This book was released on 2024-02-28 with total page 290 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book offers a succinct overview of the technical components of blockchain networks, also known as distributed digital ledger networks. Written from an academic perspective, it surveys ongoing research challenges as well as existing literature. Several chapters illustrate how the mathematical tools of game theory and algorithmic mechanism design can be applied to the analysis, design, and improvement of blockchain network protocols. Using an engineering perspective, insights are provided into how the economic interests of different types of participants shape the behaviors of blockchain systems. Readers are thus provided with a paradigm for developing blockchain consensus protocols and distributed economic mechanisms that regulate the interactions of system participants, thus leading to desired cooperative behaviors in the form of system equilibria. This book will be a vital resource for students and scholars of this budding field.
Download or read book Efficiency Wages Tournaments and Discrimination written by David Charny and published by . This book was released on 1996 with total page 98 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Problem Solving in Child and Adolescent Psychotherapy written by Katharina Manassis and published by Guilford Press. This book was released on 2012-03-02 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt: This unique volume presents clear steps for helping children and adolescents manage a range of social, emotional, or behavioral challenges by using a problem-solving approach. Highly practical and accessible, the book provides a versatile framework for collaborative brief intervention. It describes when and with whom to use problem solving and how to tailor it to different children's needs. Extensive clinical examples illustrate what the approach looks like in action with preschoolers through increasingly independent teens. With its focus on specific dilemmas, problem solving does not attempt to change broader patterns of thinking, feeling, or behaving. Yet it teaches valuable skills that can be generalized to help children deal with other problems--and can increase their confidence, independence, and resilience. The book shows how therapists of any orientation can use problem solving as a stand-alone intervention or in combination with other therapeutic techniques. Chapters demonstrate the nuts and bolts of five key steps: *Defining the problem.*Generating alternative solutions.*Evaluating alternatives and making a choice.*Trying a new solution.*Following up and evaluating outcomes. The sample therapist-client interactions are engaging and realistic, and feature children with a variety of diagnoses. Ways to involve parents in treatment are addressed, as are strategies for implementing the approach with groups. Tips for overcoming frequently encountered obstacles are highlighted throughout and are discussed in depth in the concluding chapter. Written in a concise, straight-talking style, this book is an indispensable go-to guide for all mental health professionals working with children and adolescents, including clinical psychologists, school psychologists, counselors, social workers, and psychiatrists.
