Download or read book The Economics of Contracts second edition written by Bernard Salanie 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. 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 On Incentives to Help in Multi agent Situations written by Hideshi Itō and published by . This book was released on 1988 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper concerns moral hazard problems in multi-agent situations where cooperation is an issue. Each agent chooses his own effort, which improves stochastically the outcome of his own job. Agents also choose the amount of 'help' to extend to other agents, which improves the performance of other agents. By selecting appropriate compensation schemes, the principal can design the task structure of the firm: The principal may prefer an unambiguous division labor, where each agent is inclined not to help other agents and specializes in his own job. Or the principal may prefer teamwork where each agent is motivated to help other agents. The analysis identifies two important determinants in choosing the optimal task structure; the effect of 'interpersonal interaction' and the attitude of the agents in providing 'small' amounts of help.

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 Economie de L incertain Et de L information written by Jean-Jacques Laffont and published by MIT Press. This book was released on 1989 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Economics of Uncertainty and Information may be used in conjunction with Loffont's Fundamentals of Economics in an advanced course in microeconomics.

Download or read book Non Cooperative Planning Theory written by Peter Bogetoft and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 314 pages. Available in PDF, EPUB and Kindle. Book excerpt: Planning in a general sense is concerned with the design of communication and decision making mechanisms in organizations where information and choice are decentralized. Non-cooperative planning theory as it is developed in this book treats the incentive aspects hereof. It stresses how strategic behavior and opportunism may impede planning, and how this can be coped with via the organization of communication and decision making, the design of information and control systems, and the development of incentive schemes. In particular, the book contains a thorough investigation of incentive provision in information production.

Download or read book Advanced Microeconomic Theory written by Felix Munoz-Garcia and published by MIT Press. This book was released on 2017-08-11 with total page 891 pages. Available in PDF, EPUB and Kindle. Book excerpt: An introduction to advanced topics in microeconomics that emphasizes the intuition behind assumptions and results, providing examples that show how to apply theory to practice. This textbook offers an introduction to advanced microeconomic theory that emphasizes the intuition behind mathematical assumptions, providing step-by-step examples that show how to apply theoretical models. It covers standard topics such as preference relations, demand theory and applications, producer theory, choice under uncertainty, partial and general equilibrium, monopoly, game theory and imperfect competition, externalities and public goods, and contract theory; but its intuitive and application-oriented approach provides students with a bridge to more technical topics. The book can be used by advanced undergraduates as well as Masters students in economics, finance, and public policy, and by PhD students in programs with an applied focus. The text connects each topic with recent findings in behavioral and experimental economics, and discusses these results in context, within the appropriate chapter. Step-by-step examples appear immediately after the main theoretical findings, and end-of chapter exercises help students understand how to approach similar exercises on their own. An appendix reviews basic mathematical concepts. A separate workbook, Practice Exercises for Advanced Microeconomic Theory, offers solutions to selected problems with detailed explanations. The textbook and workbook together help students improve both their theoretical and practical preparation in advanced microeconomics.

Download or read book Subgame Perfect Implementation written by John Moore and published by . This book was released on 1986 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Selected Works of Joseph E Stiglitz written by Joseph E. Stiglitz and published by Oxford University Press. This book was released on 2009 with total page 904 pages. Available in PDF, EPUB and Kindle. Book excerpt: The second in a series of six volumes containing a selection of Joseph Stiglitz's most important and widely cited work. Volume I set out the basic concepts underlying the economics of information. Volume II extends these concepts and applies them to a number of different settings in labour, capital, and product markets

Download or read book Essays on Management Accounting and Incentive Contracts for Some New Production and Selling Strategies written by Seok-Young Lee and published by . This book was released on 1992 with total page 282 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Optimal Enterprise written by Mikhail V. Belov and published by CRC Press. This book was released on 2021-07-28 with total page 373 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the modern world, most gross product is created within Enterprise firms, project programs, state agencies, transnational corporations and their divisions, as well as various associations and compositions of the above entities. Enterprises, being, on the one hand, complex, and, on the other hand, widespread systems, are the subject matter of cybernetics, system theory, operations research, management sciences and many other fields of knowledge. However, the complexity of the system obstructs the development of mathematically rigorous foundations for Enterprise control. Moreover, methods of operations research and related sciences, which are widely used in practice, provide optimization of the constituents of an Enterprise, without modeling it as a whole system. But the optimization of parts does not lead to the optimality of the whole, and, also, the absence of top-down and holistic mathematical models of Enterprise contradicts the principle of holism and the system approach. The approach in this book looks first at Enterprise Systems and their essential aspects as complex sociotechnical systems composed of integrated sets of structural and process models (Chapters 1 and 2). A uniform description of all the heterogeneous fields of the modern Enterprise (marketing, sales, manufacturing, HR, finance, etc.) is then made, and the Enterprise Control Problem is posed as a top-down and holistic mathematical optimization problem (Chapter 3). Original models and methods of contract theory (Chapter 4), technology management (Chapter 5), human behavior and human capital (Chapter 6) and complex activity and resource planning (Chapter 7) are developed to solve the problem. Structural processes and mathematical models constitute an Optimal Enterprise Control Framework (Chapter 8) that provides a practical solution to the Enterprise Control Problem. This book is a resource for postgraduate and doctoral students, postdoctoral researchers and professors with research interests in the following fields of science: Fundamental Complex Systems study, Complex Systems Engineering, Enterprise Systems Engineering Applications of Operations Research, Optimization, Probability and Stochastic processes to Management Science, Economics and Business Theory of the Firm Business and Management – general, strategy/leadership, organization management, operations management and management information systems Theory of Business Processes, Business Processes Improvement and Reengineering

Download or read book Performance Incentives written by Matthew G. Springer and published by Rowman & Littlefield. This book was released on 2009-12-01 with total page 348 pages. Available in PDF, EPUB and Kindle. Book excerpt: The concept of pay for performance for public school teachers is growing in popularity and use, and it has resurged to once again occupy a central role in education policy. Performance Incentives: Their Growing Impact on American K-12 Education offers the most up-to-date and complete analysis of this promising—yet still controversial—policy innovation. Performance Incentives brings together an interdisciplinary team of experts, providing an unprecedented discussion and analysis of the pay-for-performance debate by • Identifying the potential strengths and weaknesses of tying pay to student outcomes; • Comparing different strategies for measuring teacher accomplishments; • Addressing key conceptual and implemen - tation issues; • Describing what teachers themselves think of merit pay; • Examining recent examples in Arkansas, Florida, North Carolina, and Texas; • Studying the overall impact on student achievement.

Download or read book New Frontiers in Information and Production Systems Modelling and Analysis written by Przemysław Różewski and published by Springer. This book was released on 2015-10-26 with total page 273 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book demonstrates how to apply modern approaches to complex system control in practical applications involving knowledge-based systems. The dimensions of knowledge-based systems are extended by incorporating new perspectives from control theory, multimodal systems and simulation methods. The book is divided into three parts: theory, production system and information system applications. One of its main focuses is on an agent-based approach to complex system analysis. Moreover, specialised forms of knowledge-based systems (like e-learning, social network, and production systems) are introduced with a new formal approach to knowledge system modelling. The book, which offers a valuable resource for researchers engaged in complex system analysis, is the result of a unique cooperation between scientists from applied computer science (mainly from Poland) and leading system control theory researchers from the Russian Academy of Sciences’ Trapeznikov Institute of Control Sciences.

Download or read book Designing Financial Systems in Transition Economies written by Anna Meyendorff and published by MIT Press. This book was released on 2002 with total page 340 pages. Available in PDF, EPUB and Kindle. Book excerpt: This collection examines the design of financial systems for central and eastern European countries engaged in the transition to market-based economies. It highlights the need for better approaches to measuring performance and providing incentives in banking and for financial mechanisms to encourage private-sector growth. Written by leading European and North American scholars, the essays apply modern finance theory and empirical data to the development of new financial sectors.

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 Learning and Adaption in Multi Agent Systems written by Karl Tuyls and published by Springer Science & Business Media. This book was released on 2006-04-10 with total page 225 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book constitutes the thoroughly refereed post-proceedings of the First International Workshop on Learning and Adaption in Multi-Agent Systems, LAMAS 2005, held in The Netherlands, in July 2005, as an associated event of AAMAS 2005. The 13 revised papers presented together with two invited talks were carefully reviewed and selected from the lectures given at the workshop.

Download or read book ICM Millennium Lectures on Games written by Leon A. Petrosjan and published by Springer Science & Business Media. This book was released on 2013-04-17 with total page 410 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the first Congress in Zürich in 1897, the ICM has been an eagerly awaited event every four years. Many of these occasions are celebrated for historie developments and seminal contributions to mathematics. 2002 marks the year of the 24th ICM, the first of the new millennium. Also historie is the first ICM Satellite Conference devoted to game theory and applications. It is one of those rare occasions, in which masters of the field are able to meet under congenial surroundings to talk and share their gathered wisdom. As is usually the case in ICM meetings, participants of the ICM Satellite Conference on Game Theory and Applications (Qingdao, August 2(02) hailed from the four corners of the world. In addition to presentations of high qual ity research, the program also included twelve invited plenary sessions with distinguished speakers. This volume, which gathers together selected papers read at the conference, is divided into four sections: (I) Foundations, Concepts, and Structure. (II) Equilibrium Properties. (III) Applications to the Natural and Social Sciences. (IV) Computational Aspects of Games.

Download or read book Multi Agent Systems and Applications IV written by Michal Pechoucek and published by Springer Science & Business Media. This book was released on 2005-09-06 with total page 684 pages. Available in PDF, EPUB and Kindle. Book excerpt: The aim of the CEEMAS conference series is to provide a biennial forum for the presentation of multi-agent research and development results. With its p- ticular geographicalorientation towards Central and Eastern Europe, CEEMAS has become an internationally recognised event with participants from all over the world. After the successful CEEMAS conferences in St. Petersburg (1999), Cracow (2001) and Prague (2003), the 2005 CEEMAS conference takes place in Budapest. The programme committee of the conference series consists of est- lished researchers from the region and renowned international colleagues, sh- ing the prominent rank of CEEMAS among the leading events in multi-agent systems. In the very competitive ?eld of agent oriented conferences and workshops nowadays(suchasAAMAS,WI/IAT,EUMAS,CIA,MATES)thespecialpro?le of CEEMAS is that it is trying to bridge the gap between applied research achievements and theoretical research activities. Our ambition is to provide a forum for presenting theoretical research with an evident application potential, implemented application prototypes and their properties, as well as industrial case studies of successful (but also unsuccessful) agent technology deployments. This is why the CEEMAS proceedings volume provides a collection of research and application papers. The technical research paper section of the proceedings (see pages 11–499) contains pure research papers as well as research results in application settings while the application papers section (see pages 500–530) contains papers focused on application aspects. The goal is to demonstrate the real life value and commercial reality of multi-agent systems as well as to foster communication between academia and industry in this ?eld.