The Theory Of Incentives
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The Theory Of Incentives
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Author : Jean-Jacques Laffont
language : en
Publisher: Princeton University Press
Release Date : 2009-12-27
The Theory Of Incentives written by Jean-Jacques Laffont and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-12-27 with Business & Economics categories.
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.
The Theory Of Incentives
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Author : David Martimort
language : en
Publisher:
Release Date : 2006
The Theory Of Incentives written by David Martimort and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with Economics categories.
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.This Special Low-Priced Edition Is For Sale In India, Bangladesh, Bhutan, Maldives, Nepal, Myanmar, Pakistan And Sri Lanka Only.
The Principal Agent Model
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Author : Jean-Jacques Laffont
language : en
Publisher: Edward Elgar Publishing
Release Date : 2003
The Principal Agent Model written by Jean-Jacques Laffont and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with Business & Economics categories.
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.
The Economic Theory Of Incentives
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Author : David Martimort
language : en
Publisher:
Release Date : 2017-11-24
The Economic Theory Of Incentives written by David Martimort and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-11-24 with Economics categories.
This comprehensive two-volume research collection recaps major literary contributions to the economic theory of incentives. The carefully selected papers spanning forty years analyse and review collective decision problems in the context of asymmetric information, moral hazard and incomplete contracting. Together with an original introduction by the editor, this collection would be a valuable addition to the bookshelves of any serious scholar and student in the field.
A Theory Of Incentives In Procurement And Regulation
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Author : Jean-Jacques Laffont
language : en
Publisher: MIT Press
Release Date : 1993
A Theory Of Incentives In Procurement And Regulation written by Jean-Jacques Laffont and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1993 with Business & Economics categories.
Based on their work in the application of principal-agent theory to questions of regulation, Laffont and Tirole develop a synthetic approach to this field, focusing on the regulation of natural monopolies such as military contractors, utility companies and transportation authorities.
Essays On The Theory Of Incentives And Information
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Author : Luis Rayo
language : en
Publisher:
Release Date : 2002
Essays On The Theory Of Incentives And Information written by Luis Rayo and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with categories.
Incentive Theory And Motivation
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Author : IntroBooks
language : en
Publisher: IntroBooks
Release Date : 2018-02-20
Incentive Theory And Motivation written by IntroBooks and has been published by IntroBooks this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-02-20 with Self-Help categories.
Motivation is one of the foremost driving forces of human nature. Its what puts us at the edge of every action and activity; it is the sole driving force that keeps us to moving forward in our journey to live and write our own story of life. It might seem philosophical in the beginning, and yet its motivation alone that wakes us up every day, keeps us alive every minute we exist, prompts us to complete our daily tasks and ultimately aim for a higher and a better of living. We have it inside of us and everybody is possessed with it. Indeed, several socio-political and economic issues and disasters that we observe often, can actually be very much related to a lack of motivation among people’s lives. Motivation can thus be equated as a synonym for ‘morale’. Ever since the beginning of time, motivation has always been with us. Its what led our earliest ancestors to stay alive in spite of numerous hardships that existed back then, prompted them to ‘get the hunt in time’ and made sure that groups never faded away. Motivation has been the prime factor behind every individual we remember today! Einstein invented the theory of relativity and everything scientists have been able to know of the universe because he was motivated to discover things nobody had done so before, with passion and energy. Human civilisation is in itself a by-product of motivated spirits; the inherent thirst to keep moving forward that has allowed humans as a species to test the forces of time.
Agency Theory Information And Incentives
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Author : Günter Bamberg
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
Agency Theory Information And Incentives written by Günter Bamberg and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.
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.
Incentives
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Author : Donald E. Campbell
language : en
Publisher: Cambridge University Press
Release Date : 2018-02-22
Incentives written by Donald E. Campbell and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-02-22 with Business & Economics categories.
When incentives work well, individuals prosper. When incentives are poor, the pursuit of self-interest is self-defeating. This book is wholly devoted to the topical subject of incentives from individual, collective, and institutional standpoints. This third edition is fully updated and expanded, including a new section on the 2007–08 financial crisis and a new chapter on networks as well as specific applications of school placement for students, search engine ad auctions, pollution permits, and more. Using worked examples and lucid general theory in its analysis, and seasoned with references to current and past events, Incentives: Motivation and the Economics of Information examines: the performance of agents hired to carry out specific tasks, from taxi drivers to CEOs; the performance of institutions, from voting schemes to medical panels deciding who gets kidney transplants; a wide range of market transactions, from auctions to labor markets to the entire economy. Suitable for advanced undergraduate and graduate students studying incentives as part of courses in microeconomics, economic theory, managerial economics, political economy, and related areas of social science.
Game Theory In Management Accounting
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Author : David Mueller
language : en
Publisher: Springer
Release Date : 2017-09-21
Game Theory In Management Accounting written by David Mueller and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-09-21 with Business & Economics categories.
This book demonstrates what kind of problems, originating in a management accounting setting, may be solved with game theoretic models. Game theory has experienced growing interest and numerous applications in the field of management accounting. The main focus traditionally has been on the field of non-cooperative behaviour, but the area of cooperative game theory has developed rapidly and has received increasing attention. Intensive research, in combination with the changing culture of publishing, has produced a nearly unmanageable number of publications in the areas concerned. Therefore, one main purpose of this volume is providing an intensive analysis of the intersection of these areas. In addition, the book strengthens the relationship between the theory and the practical applications and it illustrates the two-sided relationship between game theory and management accounting: new game theoretic models offer new fields of applications and these applications raise new questions for the theory.