Download or read book The Economics of Contracts written by Bernard Salanié and published by MIT Press. This book was released on 2005-03-11 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: A concise introduction to the theory of contracts, emphasizing basic tools that allow the reader to understand the main theoretical models; revised and updated throughout for this edition.
Download or read book The Economics of Contracts second edition written by Bernard Salanie and published by MIT Press. This book was released on 2017-02-17 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: A concise introduction to the theory of contracts, emphasizing basic tools that allow the reader to understand the main theoretical models; revised and updated throughout for this edition. The theory of contracts grew out of the failure of the general equilibrium model to account for the strategic interactions among agents that arise from informational asymmetries. This popular text, revised and updated throughout for the second edition, serves as a concise and rigorous introduction to the theory of contracts for graduate students and professional economists. The book presents the main models of the theory of contracts, particularly the basic models of adverse selection, signaling, and moral hazard. It emphasizes the methods used to analyze the models, but also includes brief introductions to many of the applications in different fields of economics. The goal is to give readers the tools to understand the basic models and create their own. For the second edition, major changes have been made to chapter 3, on examples and extensions for the adverse selection model, which now includes more thorough discussions of multiprincipals, collusion, and multidimensional adverse selection, and to chapter 5, on moral hazard, with the limited liability model, career concerns, and common agency added to its topics. Two chapters have been completely rewritten: chapter 7, on the theory of incomplete contracts, and chapter 8, on the empirical literature in the theory of contracts. An appendix presents concepts of noncooperative game theory to supplement chapters 4 and 6. Exercises follow chapters 2 through 5. Praise for the previous edition: “The Economics of Contracts offers an excellent introduction to agency models. Written by one of the leading young researchers in contact theory, it is rigorous, clear, concise, and up-to-date. Researchers and students who want to learn about the economics of incentives will want to read this primer.”—Jean Tirole, Institut D'Économie Industrielle, Universite des Sciences Sociales, France “Students will find this a very useful introduction to the ideas of contract theory. Salanié has managed to summarize a large amount of material in a relatively short number of pages in a highly accessible and readable manner.”—Oliver Hart, Professor of Economics, Harvard University
Download or read book Modernizing the Public Sector written by Irvine Lapsley and published by Routledge. This book was released on 2016-12-08 with total page 415 pages. Available in PDF, EPUB and Kindle. Book excerpt: As policymakers and scholars evaluate possible ways forward in the reform and renewal of public services by governments caught up in a recessionary environment, this book aims to offer something different – a comprehensive analysis of the development of the ‘Scandinavian’ way of modernizing public-sector management. No book has yet provided an inside view of the development and character of New Public Management (NPM) in Scandinavia. Although there is a general perception that there is a clear-cut ‘Scandinavian’ model of public policy and management, this book offers a more nuanced interpretation, illuminating subtle distinctions in political, social and economic context which are significant in identifying receptive contexts for the adoption of modernization policies. Organized into three main themes in the modernization of the welfare state – management, governance and marketization – the contents revolve around unique empirical accounts, revealing distinctive Scandinavian characteristics of reform initiatives. The received wisdom may be a hesitant follower of the UK and the USA. But this book offers an alternative interpretation, revealing an edginess in certain Scandinavian settings, particularly in Sweden, which is a largely unrecognized. Without compromising the welfare state, it may be a bold frontrunner in the development of New Public Management.
Download or read book Indefinite Delivery indefinite Quantity Contracting Practices written by Douglas D. Gransberg and published by . This book was released on 2015 with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt: "TRB's National Cooperative Highway Research Program (NCHRP) Synthesis 473: Indefinite Delivery/Indefinite Quantity Contracting Practices examines practices related to the use of Indefinite Delivery/Indefinite Quantity (IDIQ) contracting by transportation agencies for highway design, construction, and maintenance contracts. The synthesis covers multiple aspects of IDIQ practice, including contracting techniques, terminology used by transportation agencies, contract advertising and award practices, successful contracting procedures, pricing methods, risk management issues, and effective contract administration practices." -- Publisher's description.
Download or read book Defense Contract Management written by John P. Hutton and published by DIANE Publishing. This book was released on 2008 with total page 539 pages. Available in PDF, EPUB and Kindle. Book excerpt: The DoD¿s U.S. Army Corps of Engineers awarded the $2.5 billion Restore Iraqi Oil (RIO I) contract to Kellogg Brown & Root in March 2003 in an effort to re-establish Iraq¿s oil infrastructure, & to ensure adequate fuel supplies inside Iraq. RIO I was a cost-plus-award-fee type contract that provided for payment of the contractor¿s costs, a fixed fee determined at inception of the contract, & a potential award fee. The Defense Contract Audit Agency (DCAA) reviewed the 10 RIO I task orders & questioned $221 million in contractor costs. This report determines: how DoD addressed DCAA¿s RIO I audit findings & what factors contributed to DoD¿s decision; & the extent to which DoD paid award fees for RIO I & followed the planned process for making that decision. Ill.
Download or read book U S Navy Military Sealift Command Weak Contract Administration Led to Unsafe and Poorly Maintained Ships written by and published by . This book was released on 1994 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Warfighter Support Continued Actions Needed by DoD to Improve and Institutionalize Contractor Support in Contingency Operations written by William M. Solis and published by DIANE Publishing. This book was released on 2010-08 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: The DoD relies greatly on contractors to support its current operations and is likely to continue to depend on contractors in support of future operations. As of Dec. 2009, DoD estimated that over 207,000 contractor personnel were supporting operations in Iraq and Afghanistan. DoD expects to increase the number of contractors as more troops deploy to Afghanistan. This testimony addresses: (1) the challenges DoD faces when trying to provide management and oversight of contractors in Iraq and Afghanistan; and (2) the extent to which DoD has made progress in institutionalizing a department-wide approach to managing and overseeing operational contract support. Charts and tables.
Download or read book Contracting in the New Public Management written by Yvonne Fortin and published by . This book was released on 2000 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This text focuses on internal management contracts. It includes contributions analyzing the economic, political, legal, historical and cultural contexts in which such contracts are being implemented. Its particularity lies in devising an approach that is international, pluridisciplinary and also truly comparative. Moreover, it seeks to broach those sometimes-neglected sectors and issues, at least at the international level, such as the role of trade unions, professional associations and local authorities, as well as relationships among stakeholders and trust. Although based on European countries, including Germany, Denmark, France, Northern Ireland, the UK and Sweden, the research presented herein extends to New Zealand, Canada and the USA.
Download or read book A Comparative Analysis of Risk Management Plans Within the Defense Contract Management Agency written by Teddie L. Dyson and published by . This book was released on 2001-06 with total page 142 pages. Available in PDF, EPUB and Kindle. Book excerpt: This thesis performs a comparative analysis of a sampling of risk management plans for strategic and critical suppliers administered by the Defense Contract Management District West (DCMDW) in order to identify the areas of highest risk and the most common tools used to mitigate risk in key processes and systems for these suppliers. The Defense Contract Management Agency (DCMA) uses a comprehensive, inclusive, and iterative approach to risk management. It follows the Government and DoD risk management premise of using a five-step approach to risk management and the basic idea of identifying and assessing key processes/systems whose risk, either through probability or potential impact, offers the most cause for concern from a performance, schedule, or cost perspective. It employs current information technology, Risk Assessment and Management Program (RAMP) to provide consistency, commonality, access, and comparability to its risk management process. Performance and schedule, product support and supplier quality assurance for product quality, and delivery were the areas of highest risk for DCMA. The most commonly applied risk handling tools indicated in the RAMP database were areas associated with analysis, monitoring, and surveillance activities before final inspection: "Data Analysis", "Product Audits", "System Evaluation", and "Corrective Action".
Download or read book Best Practices written by Paul L. Francis and published by DIANE Publishing. This book was released on 2009-12 with total page 75 pages. Available in PDF, EPUB and Kindle. Book excerpt: Cost growth is a prevalent problem in Navy shipbuilding programs, particularly for the first ships in new classes. In response to a mandate in the conference report accompanying the Defense Appropriations Act for Fiscal Year 2008, this review was undertaken to: (1) identify key practices employed by leading commercial ship buyers and shipbuilders that ensure satisfactory cost, schedule, and ship performance; (2) determine the extent to which Navy shipbuilding programs employ these practices; and (3) evaluate how commercial and Navy business environments incentivize the use of best practices. Includes recommendations. Illustrations, and charts and tables.
Download or read book Using the Steel Vessel Material Cost Index to Mitigate Shipbuilder Risk written by Edward G. Keating and published by Rand Corporation. This book was released on 2008-03-18 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: The more accurately a cost index captures a shipbuilder's risk, the less the Navy should have to pay its shipbuilders. The Navy uses such indexes to correct for significant cost risks outside its shipbuilders' control. A longtime material-cost index in Navy shipbuilding is the steel-vessel index, but it is outdated and volatile. The authors urge the Navy to develop a modern-vessel index that more appropriately represents the materials used today.
Download or read book Guidance for Transitioning to Performance Based Service Contracting A Guide for Department of Defense Field Contracting Activities written by Michael L. Renegar and published by . This book was released on 2000-06-01 with total page 178 pages. Available in PDF, EPUB and Kindle. Book excerpt: The objective of this thesis is to assess the transition from traditional service contracting to performance-based service contracting at Department of Defense Field Contracting Activities. There has been an increase in spending on services over the past decade that has forced the Federal Government to review its policy on service contracting. In 1991, the Office of Federal Procurement Policy established policy for the acquisition of services using performance-based contracting. Interviews of Government contracting personnel and review of professional literature highlight barriers to performance-based service contracting. These barriers are: management of cultural change, education and training of Government and contractor personnel, adoption of best commercial practices, writing of performance-based statements of work, and the tasks involved in contract administration. This thesis makes recommendations for overcoming these barriers and provides guidance for successful implementation of performance-based service contracting within the Department of Defense.
Download or read book Implementing Performance based Services Acquisition PBSA written by John A. Ausink and published by RAND Corporation. This book was released on 2002 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt: The U.S. Air Force is implementing performance-based practices in its service contracts to improve quality and reduce costs. Earlier Project AIR FORCE research examined implementation in installation support services. The project has now examined purchased services that support weapon system development and sustainment ('systems' services). Under performance-based services acquisition (PBSA), buyers should (1) describe what service is desired (not how to do it), (2) use measurable performance standards and quality assurance plans, (3) specify procedures for reductions in fee or price when services do not meet contract requirements, and (4) include performance incentives where appropriate. The authors conducted interviews at an Air Logistics Center and a Product Center to learn whether and how service contracts included these performance-based practices. Many at the two Centers felt that it is difficult for systems service contracts to satisfy all four of the PBSA criteria. To satisfy the requirement to use "measurable performance standards," for example, some personnel believe that the desired result of a service must be known in advance and objective data must be collected frequently to measure performance against that result. This cannot be easily done for many systems services such as engineering support and advisory and assistance services. Despite this difficulty, however, both Centers use a performance-based approach (applying the other three criteria) to purchase many services, and many personnel felt that they can determine and convey whether the contractor met their needs. The authors conclude that many of the approaches used by the Centers satisfy the intent of the criteria.
Download or read book Time related Incentive and Disincentive Provisions in Highway Construction Contracts written by Gary J. Fick and published by Transportation Research Board. This book was released on 2010 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report will be of interest to state and local highway agency construction managers and contractors with regard to learning about best practices of time-related incentive and disincentive contract provisions and their effect on staffing levels, productivity, project cost, quality, contract administration, and the contractor's operations and innovations. The report also presents a decision process guide to use as a template for crafting the incentive/disincentive provisions.
Download or read book Contractors on Deployed Military Operations written by Matthew Uttley and published by . This book was released on 2005 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Economics of Contracts written by Bernard Salanié and published by The MIT Press. This book was released on 1997-01 with total page 223 pages. Available in PDF, EPUB and Kindle. Book excerpt: The theory of contracts grew out of the failure of the general equilibrium model to account for the strategic interactions among agents that arise from informational asymmetries. This revised text offers an introduction to the theory of contracts for graduate students & professional economists.
Download or read book A Case Study of the Contract Closeout Process at Defense Contract Management Command Lockheed Martin Missiles and Space written by Leigh M. Bandy and published by . This book was released on 1998-06-01 with total page 135 pages. Available in PDF, EPUB and Kindle. Book excerpt: The primary purpose of this thesis is to provide a case analysis of the contract closeout process at DCMC Lockheed Martin (LM). The contract closeout policies and procedures at DCMC Headquarters are analyzed to develop a basis of comparison for DCMC LM. Secondary objectives include analysis of factors affecting untimely contract closeout, both DCMC-wide and at DCMC LM, and comparison of metrics results to analyze DCMC LM's progress in contract closeout. The current DCMC LM initiatives leading to increased contract closeout efficiency are discussed, and alternative closeout metrics are investigated. Finally, recommendations are made on the applicability of the DCMC LM initiatives to other organizations throughout DCMC.
