Download or read book Efficiency and Fairness in Revenue Sharing Contracts written by Alexandros Karakostas and published by . This book was released on 2014 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt: If principals are allowed to choose between a revenue sharing, a bonus and a trust contract, a large majority of experimental subjects choose the revenue sharing contract. We find that this choice is the most efficient while at the same time being fair in the Paretian sense that on average agents are not worse off than in the other contracts. Furthermore, the distribution of earnings is only mildly skewed towards the principal. We conclude that under revenue sharing contracts concerns for fairness can go in hand with the use of monetary incentives.
Download or read book Contract Choice written by Alexandros Karakostas and published by . This book was released on 2017 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We present a simple principal-agent experiment in which the principals are allowed to choose between a revenue-sharing, a bonus, and a trust contract, to offer to an agent. Our findings suggest that a large majority of experimental subjects choose the revenue-sharing contract. This choice turns out to be not only the most efficient but also, at the same time, fair. Overall, the distribution of earnings is only mildly skewed towards the principal. We conclude that, under revenue-sharing contracts, concerns for fairness can be closely associated with the use of monetary incentives.
Download or read book Effective and Necessary written by Julie Niederhoff and published by . This book was released on 2016 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We consider under what conditions a revenue sharing contract is most effective at improving system efficiency relative to a simple wholesale price contract. Using a behavioral laboratory approach, we investigate how a supplier's individual differences in risk aversion and fairness concerns influence how they set the pricing parameter(s) of a contract. We find that risk-neutral self-interested suppliers were able to improve the system and their own profits significantly under revenue sharing compared to wholesale pricing. However, individual behavioral factors of risk aversion or fairness preferences often made the more complicated revenue sharing contract either ineffective or unnecessary. Specifically, given a fairness-minded supplier, the simple wholesale price contract is comparably efficient to the revenue sharing contract set by a risk-neutral supplier and we find the coordinating contract is unnecessary. Conversely, given a strongly risk-averse supplier with no concerns for fairness a revenue sharing contract is ineffective in overcoming double marginalization.
Download or read book Efficacy and Efficiency of Profit Sharing Contracts written by Manfred J. Holler and published by . This book was released on 1986 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Strategic Capacity Planning Problems in Revenue Sharing Joint Ventures written by Retsef Levi and published by . This book was released on 2019 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: We study strategic capacity investment problems in joint ventures (JVs) with fixed-rate revenue sharing contracts. We distinguish two types of JVs, depending on how individual resources determine the effective capacity of a JV. Despite its popularity across many industries, JVs tend to suffer from high failure rates and studies suggested misaligned incentives among JV participants as one of the leading causes. To investigate this phenomenon, we propose a game-theoretical approach that allows asymmetric players and nonlinear convex costs to model the strategic behavior of JV participants. With complementary resources, the effective capacity of a JV is constrained by the most scarce resource. We show that multiple Nash equilibria could exist. Nevertheless, there exists a unique Strong Nash equilibrium. On the other hand, with substitutable resources, the effective capacity of a JV is measured by aggregating individual contributions. We show that there does not exist a fixed-rate revenue sharing contract that induces the system optimum. We quantify that the efficiency of a JV which decreases with the number of participants, the cost asymmetry and the cost margin of the JV. We also consider an extension with spillover effect which results from the knowledge and technology transfer among the JV participants. From a practical perspective, we show that for complementary resource sharing, there is an efficient and fair fixed-rate revenue sharing contract which induces the system optimal outcome in the Strong Nash equilibrium. With substitutable resources, we propose provably-good revenue sharing contracts with performance guarantees. Lastly, we also fit our model with historical data to shed some insights on two JV examples in the motion picture industry.
Download or read book Memo written by Manfred J. Holler and published by . This book was released on 1986 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Fiscal Regimes for Extractive Industries Design and Implementation written by International Monetary Fund. Fiscal Affairs Dept. and published by International Monetary Fund. This book was released on 2012-08-16 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt: Better designed and implemented fiscal regimes for oil, gas, and mining can make a substantial contribution to the revenue needs of many developing countries while ensuring an attractive return for investors, according to a new policy paper from the International Monetary Fund. Revenues from extractive industries (EIs) have major macroeconomic implications. The EIs account for over half of government revenues in many petroleum-rich countries, and for over 20 percent in mining countries. About one-third of IMF member countries find (or could find) resource revenues “macro-critical” – especially with large numbers of recent new discoveries and planned oil, gas, and mining developments. IMF policy advice and technical assistance in the field has massively expanded in recent years – driven by demand from member countries and supported by increased donor finance. The paper sets out the analytical framework underpinning, and key elements of, the country-specific advice given. Also available in Arabic: ????? ??????? ?????? ???????? ???????????: ??????? ???????? Also available in French: Régimes fiscaux des industries extractives: conception et application Also available in Spanish: Regímenes fiscales de las industrias extractivas: Diseño y aplicación
Download or read book Arbitration Fairness and Stability Revenue Division in Collaborative Settings written by Yair Zick and published by Lulu.com. This book was released on 2015-07-03 with total page 129 pages. Available in PDF, EPUB and Kindle. Book excerpt: We study the problem of dividing revenue among several collaborative entities. In our setting, each player possesses a finite amount of some divisible resource, and may allocate parts of his resource in order to work on various projects. Having completed tasks and generated profits, players must agree on some way of dividing profits among them. Using the overlapping coalition formation (OCF) model, we develop a model for handling deviation in OCF games, and propose several new solution concepts for OCF games. All of the solution concepts we propose draw strong similarities to their non-OCF counterparts, and in fact contain the classic cooperative solution concepts as a special case.
Download or read book Quantitative Models for Supply Chain Management written by Sridhar Tayur and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 851 pages. Available in PDF, EPUB and Kindle. Book excerpt: Quantitative models and computer-based tools are essential for making decisions in today's business environment. These tools are of particular importance in the rapidly growing area of supply chain management. This volume is a unified effort to provide a systematic summary of the large variety of new issues being considered, the new set of models being developed, the new techniques for analysis, and the computational methods that have become available recently. The volume's objective is to provide a self-contained, sophisticated research summary - a snapshot at this point of time - in the area of Quantitative Models for Supply Chain Management. While there are some multi-disciplinary aspects of supply chain management not covered here, the Editors and their contributors have captured many important developments in this rapidly expanding field. The 26 chapters can be divided into six categories. Basic Concepts and Technical Material (Chapters 1-6). The chapters in this category focus on introducing basic concepts, providing mathematical background and validating algorithmic tools to solve operational problems in supply chains. Supply Contracts (Chapters 7-10). In this category, the primary focus is on design and evaluation of supply contracts between independent agents in the supply chain. Value of Information (Chapters 11-13). The chapters in this category explicitly model the effect of information on decision-making and on supply chain performance. Managing Product Variety (Chapters 16-19). The chapters in this category analyze the effects of product variety and the different strategies to manage it. International Operations (Chapters 20-22). The three chapters in this category provide an overview of research in the emerging area of International Operations. Conceptual Issues and New Challenges (Chapters 23-27). These chapters outline a variety of frameworks that can be explored and used in future research efforts. This volume can serve as a graduate text, as a reference for researchers and as a guide for further development of this field.
Download or read book Delivering Better Policies Through Behavioural Insights New Approaches written by OECD and published by OECD Publishing. This book was released on 2019-04-16 with total page 158 pages. Available in PDF, EPUB and Kindle. Book excerpt: As behavioural insights (BI) become more widely used, countries are looking to expand the application of the methodology to new frontiers of policy making.
Download or read book Economy Society and Public Policy written by The Core Team and published by Oxford University Press, USA. This book was released on 2019 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economy, Society, and Public Policy is a new way to learn economics. It is designed specifically for students studying social sciences, public policy, business studies, engineering and other disciplines who want to understand how the economy works and how it can be made to work better. Topical policy problems are used to motivate learning of key concepts and methods of economics. It engages, challenges and empowers students, and will provide them with the tools to articulate reasoned views on pressing policy problems. This project is the result of a worldwide collaboration between researchers, educators, and students who are committed to bringing the socially relevant insights of economics to a broader audience.KEY FEATURESESPP does not teach microeconomics as a body of knowledge separate from macroeconomicsStudents begin their study of economics by understanding that the economy is situated within society and the biosphereStudents study problems of identifying causation, not just correlation, through the use of natural experiments, lab experiments, and other quantitative methodsSocial interactions, modelled using simple game theory, and incomplete information, modelled using a series of principal-agent problems, are introduced from the beginning. As a result, phenomena studied by the other social sciences such as social norms and the exercise of power play a roleThe insights of diverse schools of thought, from Marx and the classical economists to Hayek and Schumpeter, play an integral part in the bookThe way economists think about public policy is central to ESPP. This is introduced in Units 2 and 3, rather than later in the course.
Download or read book The Social Impact of Revenue Sharing written by Paul Terrell and published by Greenwood. This book was released on 1976 with total page 136 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Model Rules of Professional Conduct written by American Bar Association. House of Delegates and published by American Bar Association. This book was released on 2007 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Model Rules of Professional Conduct provides an up-to-date resource for information on legal ethics. Federal, state and local courts in all jurisdictions look to the Rules for guidance in solving lawyer malpractice cases, disciplinary actions, disqualification issues, sanctions questions and much more. In this volume, black-letter Rules of Professional Conduct are followed by numbered Comments that explain each Rule's purpose and provide suggestions for its practical application. The Rules will help you identify proper conduct in a variety of given situations, review those instances where discretionary action is possible, and define the nature of the relationship between you and your clients, colleagues and the courts.
Download or read book Contract with America written by United States. Congress. House. Committee on Ways and Means and published by . This book was released on 1995 with total page 772 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Revenue Mobilization in Developing Countries written by International Monetary Fund. Fiscal Affairs Dept. and published by International Monetary Fund. This book was released on 2011-08-03 with total page 86 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Fund has long played a lead role in supporting developing countries’ efforts to improve their revenue mobilization. This paper draws on that experience to review issues and good practice, and to assess prospects in this key area.
Download or read book Revenue Sharing written by United States. Congress. Senate. Committee on Government Operations. Subcommittee on Intergovernmental Relations and published by . This book was released on 1974 with total page 692 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Risk Sharing Risk Spreading and Efficient Regulation written by T.V.S. Ramamohan Rao and published by Springer. This book was released on 2015-10-22 with total page 303 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book provides an integrated approach to risk sharing, risk spreading and efficient regulation through principal agent models. It emphasizes the role of information asymmetry and risk sharing in contracts as an alternative to transaction cost considerations. It examines how contracting, as an institutional mechanism to conduct transactions, spreads risks while attempting consolidation. It further highlights the shifting emphasis in contracts from Coasian transaction cost saving to risk sharing and shows how it creates difficulties associated with risk spreading, and emphasizes the need for efficient regulation of contracts at various levels. Each of the chapters is structured using a principal agent model, and all chapters incorporate adverse selection (and exogenous randomness) as a result of information asymmetry, as well as moral hazard (and endogenous randomness) due to the self-interest-seeking behavior on the part of the participants.
