Download or read book The Principal Agent Model and the European Union written by Tom Delreux and published by Springer. This book was released on 2017-10-16 with total page 315 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book assesses the use and limitations of the principal-agent model in a context of increasingly complex political systems such as the European Union. Whilst a number of conceptual, theoretical and methodological challenges need to be addressed, the authors show that the principal-agent model can still provide deeper insights into a wide range of political phenomena. Through an empirical analysis of multiple principal-agent relations in the EU, covering a variety of policy fields and political actors, the volume refines our theoretical understanding of the politics of delegation and discretion in the EU. It will appeal to scholars in interested in EU politics and policy, public administration and governance, and international organisations. The chapter ‘Multiple principals preferences, different types of oversight mechanisms, and agent’s discretion in trade negotiations’ is published open access under a CC BY 4.0 license via link.springer.com.
Download or read book The Oxford Handbook Public Accountability written by M. A. P. Bovens and published by Oxford Handbooks. This book was released on 2014-04 with total page 737 pages. Available in PDF, EPUB and Kindle. Book excerpt: Drawing on the best scholars in the field from around the world, this handbook showcases conceptual and normative as well as the empirical approaches in public accountability studies.
Download or read book The Theory of Incentives written by Jean-Jacques Laffont and published by Princeton University Press. This book was released on 2009-12-27 with total page 436 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economics has much to do with incentives--not least, incentives to work hard, to produce quality products, to study, to invest, and to save. Although Adam Smith amply confirmed this more than two hundred years ago in his analysis of sharecropping contracts, only in recent decades has a theory begun to emerge to place the topic at the heart of economic thinking. In this book, Jean-Jacques Laffont and David Martimort present the most thorough yet accessible introduction to incentives theory to date. Central to this theory is a simple question as pivotal to modern-day management as it is to economics research: What makes people act in a particular way in an economic or business situation? In seeking an answer, the authors provide the methodological tools to design institutions that can ensure good incentives for economic agents. This book focuses on the principal-agent model, the "simple" situation where a principal, or company, delegates a task to a single agent through a contract--the essence of management and contract theory. How does the owner or manager of a firm align the objectives of its various members to maximize profits? Following a brief historical overview showing how the problem of incentives has come to the fore in the past two centuries, the authors devote the bulk of their work to exploring principal-agent models and various extensions thereof in light of three types of information problems: adverse selection, moral hazard, and non-verifiability. Offering an unprecedented look at a subject vital to industrial organization, labor economics, and behavioral economics, this book is set to become the definitive resource for students, researchers, and others who might find themselves pondering what contracts, and the incentives they embody, are really all about.
Download or read book A Handbook of Management Theories and Models for Office Environments and Services written by Rianne Appel-Meulenbroek and published by Routledge. This book was released on 2021-08-02 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: Although workplace design and management are gaining more and more attention from modern organizations, workplace research is still very fragmented and spread across multiple disciplines in academia. There are several books on the market related to workplaces, facility management (FM), and corporate real estate management (CREM) disciplines, but few open up a theoretical and practical discussion across multiple theories from different disciplines. Therefore, workplace researchers are not aware of all the angles from which workplace management and effects of workplace design on employees has been or could be studied. A lot of knowledge is lost between disciplines, and sadly, many insights do not reach workplace managers in practice. Therefore, this new book series is started by associate professor Rianne Appel-Meulenbroek (Eindhoven University of Technology, the Netherlands) and postdoc researcher Vitalija Danivska (Aalto University, Finland) as editors, published by Routledge. It is titled ‘Transdisciplinary Workplace Research and Management’ because it bundles important research insights from different disciplinary fields and shows its relevance for both academic workplace research and workplace management in practice. The books will address the complexity of the transdisciplinary angle necessary to solve ongoing workplace-related issues in practice, such as knowledge worker productivity, office use, and more strategic management. In addition, the editors work towards further collaboration and integration of the necessary disciplines for further development of the workplace field in research and in practice. This book series is relevant for workplace experts both in academia and industry. This second book in the series focuses on the role of workplace management in the organization and the tasks that workplace management needs to consider. The 18 theories that are presented in this book and applied to workplace research discuss management aspects from the organization’s perspective or dive deeper into issues related to people and/or building management. They all emphasize that workplace management is a complex matter that requires more strategic attention in order to add value for various stakeholders. The final chapter of the book describes a first step towards integrating the presented theories into an interdisciplinary framework for developing a grand workplace management theory.
Download or read book Computational Complexity written by Robert A. Meyers and published by Springer. This book was released on 2011-10-19 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Complex systems are systems that comprise many interacting parts with the ability to generate a new quality of collective behavior through self-organization, e.g. the spontaneous formation of temporal, spatial or functional structures. These systems are often characterized by extreme sensitivity to initial conditions as well as emergent behavior that are not readily predictable or even completely deterministic. The recognition that the collective behavior of the whole system cannot be simply inferred from an understanding of the behavior of the individual components has led to the development of numerous sophisticated new computational and modeling tools with applications to a wide range of scientific, engineering, and societal phenomena. Computational Complexity: Theory, Techniques and Applications presents a detailed and integrated view of the theoretical basis, computational methods, and state-of-the-art approaches to investigating and modeling of inherently difficult problems whose solution requires extensive resources approaching the practical limits of present-day computer systems. This comprehensive and authoritative reference examines key components of computational complexity, including cellular automata, graph theory, data mining, granular computing, soft computing, wavelets, and more.
Download or read book Allocation Information and Markets written by John Eatwell and published by Springer. This book was released on 1989-09-21 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is an extract from the 4-volume dictionary of economics, a reference book which aims to define the subject of economics today. 1300 subject entries in the complete work cover the broad themes of economic theory. This volume concentrates on the topic of allocation information and markets.
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 Foundations of Insurance Economics written by Georges Dionne and published by Springer Science & Business Media. This book was released on 1992 with total page 748 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic and financial research on insurance markets has undergone dramatic growth since its infancy in the early 1960s. Our main objective in compiling this volume was to achieve a wider dissemination of key papers in this literature. Their significance is highlighted in the introduction, which surveys major areas in insurance economics. While it was not possible to provide comprehensive coverage of insurance economics in this book, these readings provide an essential foundation to those who desire to conduct research and teach in the field. In particular, we hope that this compilation and our introduction will be useful to graduate students and to researchers in economics, finance, and insurance. Our criteria for selecting articles included significance, representativeness, pedagogical value, and our desire to include theoretical and empirical work. While the focus of the applied papers is on property-liability insurance, they illustrate issues, concepts, and methods that are applicable in many areas of insurance. The S. S. Huebner Foundation for Insurance Education at the University of Pennsylvania's Wharton School made this book possible by financing publication costs. We are grateful for this assistance and to J. David Cummins, Executive Director of the Foundation, for his efforts and helpful advice on the contents. We also wish to thank all of the authors and editors who provided permission to reprint articles and our respective institutions for technical and financial support.
Download or read book Comparative Politics written by Jan-Erik Lane and published by Routledge. This book was released on 2007-10-30 with total page 333 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores, using a set of data from 150 countries, whether there are any evolutionary mechanisms in politics that guide mankind towards the rule of law regime, domestically and globally.
Download or read book The Principal Agent Model written by Jean-Jacques Laffont and published by Edward Elgar Publishing. This book was released on 2003 with total page 726 pages. Available in PDF, EPUB and Kindle. Book excerpt: The economics of asymmetric information has been the most important new tool of economic analysis and has proved powerful in explaining many aspects of the functioning of the economy. This anthology brings together every major paper in the field.
Download or read book Proxy Wars written by Eli Berman and published by Cornell University Press. This book was released on 2019-03-15 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt: The most common image of world politics involves states negotiating, cooperating, or sometimes fighting with one another; billiard balls in motion on a global pool table. Yet working through local proxies or agents, through what Eli Berman and David A. Lake call a strategy of "indirect control," has always been a central tool of foreign policy. Understanding how countries motivate local allies to act in sometimes costly ways, and when and how that strategy succeeds, is essential to effective foreign policy in today's world. In this splendid collection, Berman and Lake apply a variant of principal-agent theory in which the alignment of interests or objectives between a powerful state and a local proxy is central. Through analysis of nine detailed cases, Proxy Wars finds that: when principals use rewards and punishments tailored to the agent's domestic politics, proxies typically comply with their wishes; when the threat to the principal or the costs to the agent increase, the principal responds with higher-powered incentives and the proxy responds with greater effort; if interests diverge too much, the principal must either take direct action or admit that indirect control is unworkable. Covering events from Denmark under the Nazis to the Korean War to contemporary Afghanistan, and much in between, the chapters in Proxy Wars engage many disciplines and will suit classes taught in political science, economics, international relations, security studies, and much more.
Download or read book Global Encyclopedia of Public Administration Public Policy and Governance written by Ali Farazmand and published by Springer Nature. This book was released on 2023-04-05 with total page 13623 pages. Available in PDF, EPUB and Kindle. Book excerpt: This global encyclopedic work serves as a comprehensive collection of global scholarship regarding the vast fields of public administration, public policy, governance, and management. Written and edited by leading international scholars and practitioners, this exhaustive resource covers all areas of the above fields and their numerous subfields of study. In keeping with the multidisciplinary spirit of these fields and subfields, the entries make use of various theoretical, empirical, analytical, practical, and methodological bases of knowledge. Expanded and updated, the second edition includes over a thousand of new entries representing the most current research in public administration, public policy, governance, nonprofit and nongovernmental organizations, and management covering such important sub-areas as: 1. organization theory, behavior, change and development; 2. administrative theory and practice; 3. Bureaucracy; 4. public budgeting and financial management; 5. public economy and public management 6. public personnel administration and labor-management relations; 7. crisis and emergency management; 8. institutional theory and public administration; 9. law and regulations; 10. ethics and accountability; 11. public governance and private governance; 12. Nonprofit management and nongovernmental organizations; 13. Social, health, and environmental policy areas; 14. pandemic and crisis management; 15. administrative and governance reforms; 16. comparative public administration and governance; 17. globalization and international issues; 18. performance management; 19. geographical areas of the world with country-focused entries like Japan, China, Latin America, Europe, Asia, Africa, the Middle East, Russia and Eastern Europe, North America; and 20. a lot more. Relevant to professionals, experts, scholars, general readers, researchers, policy makers and manger, and students worldwide, this work will serve as the most viable global reference source for those looking for an introduction and advance knowledge to the field.
Download or read book Pay Without Performance written by Lucian A. Bebchuk and published by Harvard University Press. This book was released on 2004 with total page 308 pages. Available in PDF, EPUB and Kindle. Book excerpt: The company is under-performing, its share price is trailing, and the CEO gets...a multi-million-dollar raise. This story is familiar, for good reason: as this book clearly demonstrates, structural flaws in corporate governance have produced widespread distortions in executive pay. Pay without Performance presents a disconcerting portrait of managers' influence over their own pay--and of a governance system that must fundamentally change if firms are to be managed in the interest of shareholders. Lucian Bebchuk and Jesse Fried demonstrate that corporate boards have persistently failed to negotiate at arm's length with the executives they are meant to oversee. They give a richly detailed account of how pay practices--from option plans to retirement benefits--have decoupled compensation from performance and have camouflaged both the amount and performance-insensitivity of pay. Executives' unwonted influence over their compensation has hurt shareholders by increasing pay levels and, even more importantly, by leading to practices that dilute and distort managers' incentives. This book identifies basic problems with our current reliance on boards as guardians of shareholder interests. And the solution, the authors argue, is not merely to make these boards more independent of executives as recent reforms attempt to do. Rather, boards should also be made more dependent on shareholders by eliminating the arrangements that entrench directors and insulate them from their shareholders. A powerful critique of executive compensation and corporate governance, Pay without Performance points the way to restoring corporate integrity and improving corporate performance.
Download or read book Armed Servants written by Peter Feaver and published by Harvard University Press. This book was released on 2009-07 with total page 410 pages. Available in PDF, EPUB and Kindle. Book excerpt: How do civilians control the military? In the wake of September 11, the renewed presence of national security in everyday life has made this question all the more pressing. In this book, Peter Feaver proposes an ambitious new theory that treats civil-military relations as a principal-agent relationship, with the civilian executive monitoring the actions of military agents, the armed servants of the nation-state. Military obedience is not automatic but depends on strategic calculations of whether civilians will catch and punish misbehavior. This model challenges Samuel Huntington's professionalism-based model of civil-military relations, and provides an innovative way of making sense of the U.S. Cold War and post-Cold War experience--especially the distinctively stormy civil-military relations of the Clinton era. In the decade after the Cold War ended, civilians and the military had a variety of run-ins over whether and how to use military force. These episodes, as interpreted by agency theory, contradict the conventional wisdom that civil-military relations matter only if there is risk of a coup. On the contrary, military professionalism does not by itself ensure unchallenged civilian authority. As Feaver argues, agency theory offers the best foundation for thinking about relations between military and civilian leaders, now and in the future.
Download or read book Internet and Network Economics written by Amin Saberi and published by Springer. This book was released on 2010-12-06 with total page 590 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book constitutes the refereed proceedings of the 6th International Workshop on Internet and Network Economics, WINE 2010, held in Stanford, USA, in December 2010. The 52 revised full papers presented were carefully reviewed and selected from 95 submissions. The papers are organized in 33 regular papers and 19 short papers.
Download or read book Contract Theory in Continuous Time Models written by Jakša Cvitanic and published by Springer Science & Business Media. This book was released on 2012-09-26 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent years there has been a significant increase of interest in continuous-time Principal-Agent models, or contract theory, and their applications. Continuous-time models provide a powerful and elegant framework for solving stochastic optimization problems of finding the optimal contracts between two parties, under various assumptions on the information they have access to, and the effect they have on the underlying "profit/loss" values. This monograph surveys recent results of the theory in a systematic way, using the approach of the so-called Stochastic Maximum Principle, in models driven by Brownian Motion. Optimal contracts are characterized via a system of Forward-Backward Stochastic Differential Equations. In a number of interesting special cases these can be solved explicitly, enabling derivation of many qualitative economic conclusions.
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.
