Download or read book Agency Theory Information and Incentives written by Günter Bamberg and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 538 pages. Available in PDF, EPUB and Kindle. Book excerpt: Agency Theory is a new branch of economics which focusses on the roles of information and of incentives when individuals cooperate with respect to the utilisation of resources. Basic approaches are coming from microeco nomic theory as well as from risk analysis. Among the broad variety of ap plications are: the many designs of contractual arrangements, organiza tions, and institutions as well as the manifold aspects of the separation of ownership and control so fundamental for business finance. After some twenty years of intensive research in the field of information economics it might be timely to present the most basic issues, questions, models, and applications. This volume Agency Theory, Information, and Incentives offers introductory surveys as well as results of individual rese arch that seem to shape that field of information economics appropriately. Some 30 authors were invited to present their subjects in such a way that students could easily become acquainted with the main ideas of informa tion economics. So the aim of Agency Theory, Information, and Incentives is to introduce students at an intermediate level and to accompany their work in classes on microeconomics, information economics, organization, management theory, and business finance. The topics selected form the eight sections of the book: 1. Agency Theory and Risk Sharing 2. Information and Incentives 3. Capital Markets and Moral Hazard 4. Financial Contracting and Dividends 5. External Accounting and Auditing 6. Coordination in Groups 7. Property Rights and Fairness 8. Agency Costs.
Download or read book The Economic Psychology of Incentives written by A. Pepper and published by Springer. This book was released on 2015-07-07 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book proposes a revised theory of agency, drawing on ideas from behavioural economics and built on more robust assumptions about human behaviour than the standard principal-agent model. The book proposes new design principles for executive pay, but also explains the difficulties in changing current executive pay practices.
Download or read book Motivation Agency and Public Policy written by Julian Le Grand and published by OUP Oxford. This book was released on 2003-09-18 with total page 206 pages. Available in PDF, EPUB and Kindle. Book excerpt: Can we rely on the altruism of professionals or the public service ethos to deliver good quality health and education services? And how should patients, parents, and pupils behave - as grateful recipients or active consumers? This book provides new answers to these questions - a milestone in the analysis and development of public policy, from one of the leading thinkers in the field. It provides a new perspective on policy design, emphasising the importance of analysing the motivation of professionals and others who work within the public sector, and both their and public service beneficiaries' capacity for agency or independent action. It argues that the conventional assumption that public sector professionals are public-spirited altruists or 'knights' is misplaced; but so is the alternative that they are all, in David Hume's terminology, 'knaves' or self-interested egoists. We also must not assume that individual citizens are passive recipients of public services (pawns); but nor can they be untrammelled sovereigns with unrestricted choices over services and resources (queens). Instead, policies must be designed so as to give the proper balance of motivation and agency. The book illustrates how this can be done by detailed empirical examination of recent policies in health services, education, social security and taxation. It puts forwards proposals for policy reform, several of which either originated with the author or with which he has been closely associated: universal capital or 'demogrants', discriminating vouchers, matching grants for pensions and for long-term care, and hypothecated taxes.
Download or read book The Great Mental Models Volume 1 written by Shane Parrish and published by Penguin. This book was released on 2024-10-15 with total page 209 pages. Available in PDF, EPUB and Kindle. Book excerpt: Discover the essential thinking tools you’ve been missing with The Great Mental Models series by Shane Parrish, New York Times bestselling author and the mind behind the acclaimed Farnam Street blog and “The Knowledge Project” podcast. This first book in the series is your guide to learning the crucial thinking tools nobody ever taught you. Time and time again, great thinkers such as Charlie Munger and Warren Buffett have credited their success to mental models–representations of how something works that can scale onto other fields. Mastering a small number of mental models enables you to rapidly grasp new information, identify patterns others miss, and avoid the common mistakes that hold people back. The Great Mental Models: Volume 1, General Thinking Concepts shows you how making a few tiny changes in the way you think can deliver big results. Drawing on examples from history, business, art, and science, this book details nine of the most versatile, all-purpose mental models you can use right away to improve your decision making and productivity. This book will teach you how to: Avoid blind spots when looking at problems. Find non-obvious solutions. Anticipate and achieve desired outcomes. Play to your strengths, avoid your weaknesses, … and more. The Great Mental Models series demystifies once elusive concepts and illuminates rich knowledge that traditional education overlooks. This series is the most comprehensive and accessible guide on using mental models to better understand our world, solve problems, and gain an advantage.
Download or read book Modern Concepts of the Theory of the Firm written by Günter Fandel and published by Springer Science & Business Media. This book was released on 2013-03-09 with total page 651 pages. Available in PDF, EPUB and Kindle. Book excerpt: The authors analyse the New Economy from a scientific point of view. The success and the failure of enterprises of the new economy form a challenge to the modern business management and to the theory of the firm. This conference transcript answers the question in which way well-established concepts of the theory of the firm should be modified or new approaches should be created, in order to run enterprises of the new economy successfully. The discussion includes various fields of the theory of the firm and is therefore divided into the six essential disciplines of economic research, which are Production and Procurement, Finance, Marketing, Accounting, Human Resource Management and Economic Organization and Corporate Governance. The international orientation of the book addresses the world-wide scientific community.
Download or read book Wonderful and woeful work Incentives selection turnover and workers motivation written by Josse Delfgaauw and published by Rozenberg Publishers. This book was released on 2006 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Contract Management Systems written by Jack Sternbach and published by Transportation Research Board. This book was released on 1990 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt: This synthesis will be of interest to administrators, contract officers, and others interested in using consulting firms to manage a transportation agency's work activities -- ranging from a single project to a complete spectrum of work. Information is provided on various aspects of contract management systems, including examples of use of each aspect in several agencies. An increasing workload coupled with reduced staff size have caused state highway agencies to turn to private enterprise to accomplish work that has traditionally been done in-house. This report of the Transportation Research Board describes various aspects of the use of consultants to manage a highway agency's work and gives specific examples of use of each aspect in several agencies.
Download or read book Design of Incentive Systems written by Dennis D. Fehrenbacher and published by Springer Science & Business Media. This book was released on 2013-05-28 with total page 265 pages. Available in PDF, EPUB and Kindle. Book excerpt: Monetary incentives, as a driving force for human behavior, are the main theme of this book. The primary goals underlying the application of monetary incentive systems in companies are motivating employees to strive for superior productivity in line with the interests of employers, and hiring adequately skilled employees. The first goal refers to incentive effects, the latter to sorting effects. This book introduces important theories and concepts concerning behavior under influence of monetary incentives; it reviews existing economic frameworks and identifies specific contingency variables. Based on an integrative framework of elements influencing incentive and sorting effects, a laboratory experiment is presented including detailed methodological discussion on experimentation and data analysis as well as an extensive presentation of findings and discussion of implications.
Download or read book The Economic Nature of the Firm written by Randall S. Kroszner and published by Cambridge University Press. This book was released on 2009-09-21 with total page 664 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book brings together classic writings on the economic nature and organization of firms, including works by Ronald Coase, Oliver Williamson, and Michael Jensen and William Meckling, as well as more recent contributions by Paul Milgrom, Bengt Holmstrom, John Roberts, Oliver Hart, Luigi Zingales, and others. Part I explores the general theme of the firm's nature and place in the market economy; Part II addresses the question of which transactions are integrated under a firm's roof and what limits the growth of firms; Part III examines employer-employee relations and the motivation of labor; and Part IV studies the firm's organization from the standpoint of financing and the relationship between owners and managers. The volume also includes a consolidated bibliography of sources cited by these authors and an introductory essay by the editors that surveys the new institutional economics of the firm and issues raised in the anthology.
Download or read book The Handbook of Organizational Economics written by Robert Gibbons and published by Princeton University Press. This book was released on 2013 with total page 1248 pages. Available in PDF, EPUB and Kindle. Book excerpt: (E-book available via MyiLibrary) In even the most market-oriented economies, most economic transactions occur not in markets but inside managed organizations, particularly business firms. Organizational economics seeks to understand the nature and workings of such organizations and their impact on economic performance. The Handbook of Organizational Economics surveys the major theories, evidence, and methods used in the field. It displays the breadth of topics in organizational economics, including the roles of individuals and groups in organizations, organizational structures and processes, the boundaries of the firm, contracts between and within firms, and more.
Download or read book Risk sharing in Agency Contracts Across Owership Domains written by Celia Coelho Kamath and published by . This book was released on 1998 with total page 388 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Motivate and Reward written by H. Kressler and published by Springer. This book was released on 2003-03-21 with total page 177 pages. Available in PDF, EPUB and Kindle. Book excerpt: Motivation, ability and potential for development are crucial for performance and the achievement of objectives. The author, from his extensive management experience at Unilever, the leading multinational corporation, demonstrates the importance of the link between motivation, assessment of performance and potential, and reward and incentive strategies. It is only by getting this relationship right that the company can achieve business success.
Download or read book How to Run Successful Employee Incentive Schemes written by John G Fisher and published by Kogan Page Publishers. This book was released on 2008-09-03 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: How to Run Successful Employee Incentive Schemes provides practical advice for anyone who is responsible for constructing effective motivation programmes or incentive schemes for staff, salespeople or distributors. This revised third edition, which is now endorsed by the Institute of Sales Promotion, includes up-to-date and relevant information for all those looking to motivate staff in order to maximize profit potential. Using relevant international case studies, the book contains updated information in keeping with the latest developments on the Internet and new software advances. It covers all aspects of performance improvement in a comprehensive and accessible way, including: constructing programmes, flexible benefits, incentive travel, events and recognition systems.
Download or read book Getting Incentives Right written by Robert D. Cooter and published by Princeton University Press. This book was released on 2016-12-13 with total page 241 pages. Available in PDF, EPUB and Kindle. Book excerpt: How tort, contract, and restitution law can be reformed to better serve the social good Lawyers, judges, and scholars have long debated whether incentives in tort, contract, and restitution law effectively promote the welfare of society. If these incentives were ideal, tort law would reduce the cost and frequency of accidents, contract law would lubricate transactions, and restitution law would encourage people to benefit others. Unfortunately, the incentives in these laws lead to too many injuries, too little contractual cooperation, and too few unrequested benefits. Getting Incentives Right explains how law might better serve the social good. In tort law, Robert Cooter and Ariel Porat propose that all foreseeable risks should be included when setting standards of care and awarding damages. Failure to do so causes accidents that better legal incentives would avoid. In contract law, they show that making a promise often causes the person who receives it to change behavior and undermine the cooperation between the parties. They recommend several solutions, including a novel contract called "anti-insurance." In restitution law, people who convey unrequested benefits to others are seldom entitled to compensation. Restitution law should compensate them more than it currently does, so that they will provide more unrequested benefits. In these three areas of law, Getting Incentives Right demonstrates that better law can promote the well-being of people by providing better incentives for the private regulation of conduct.
Download or read book Drive written by Daniel H. Pink and published by Penguin. This book was released on 2011-04-05 with total page 275 pages. Available in PDF, EPUB and Kindle. Book excerpt: The New York Times bestseller that gives readers a paradigm-shattering new way to think about motivation from the author of When: The Scientific Secrets of Perfect Timing Most people believe that the best way to motivate is with rewards like money—the carrot-and-stick approach. That's a mistake, says Daniel H. Pink (author of To Sell Is Human: The Surprising Truth About Motivating Others). In this provocative and persuasive new book, he asserts that the secret to high performance and satisfaction-at work, at school, and at home—is the deeply human need to direct our own lives, to learn and create new things, and to do better by ourselves and our world. Drawing on four decades of scientific research on human motivation, Pink exposes the mismatch between what science knows and what business does—and how that affects every aspect of life. He examines the three elements of true motivation—autonomy, mastery, and purpose-and offers smart and surprising techniques for putting these into action in a unique book that will change how we think and transform how we live.
Download or read book Introduction to Earnings Management written by Malek El Diri and published by Springer. This book was released on 2017-08-20 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides researchers and scholars with a comprehensive and up-to-date analysis of earnings management theory and literature. While it raises new questions for future research, the book can be also helpful to other parties who rely on financial reporting in making decisions like regulators, policy makers, shareholders, investors, and gatekeepers e.g., auditors and analysts. The book summarizes the existing literature and provides insight into new areas of research such as the differences between earnings management, fraud, earnings quality, impression management, and expectation management; the trade-off between earnings management activities; the special measures of earnings management; and the classification of earnings management motives based on a comprehensive theoretical framework.
Download or read book Managerial Dilemmas written by Gary J. Miller and published by Cambridge University Press. This book was released on 1992 with total page 276 pages. Available in PDF, EPUB and Kindle. Book excerpt: Managerial Dilemmas extends the use of analytical techniques from organisational economics to the spheres of organisational culture and leadership in politics and business.
