Ambiguity Aversion Solves The Conflict Between Efficiency And Incentive Compatibility

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Social Norms, Bounded Rationality and Optimal Contracts

Author : Suren Basov
Publisher : Springer
ISBN 13 : 9811010412
Total Pages : 181 pages
Book Rating : 4.8/5 (11 download)

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Book Synopsis Social Norms, Bounded Rationality and Optimal Contracts by : Suren Basov

Download or read book Social Norms, Bounded Rationality and Optimal Contracts written by Suren Basov and published by Springer. This book was released on 2016-05-20 with total page 181 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book investigates the ways in which social norms and bounded rationality shape different contracts in the real world. It brings into focus existing research into optimal contracts, draws important lessons from that research, and outlines prospects for future investigation. Bounded rationality has acknowledged effects on the power of incentive provisions, such as deviations from sufficient statistic theorem, the power of optimal incentives, and the effects of optimal contracts in multicultural environments. The introduction of social norms to bounded rationality opens up new avenues of investigation into contracts and mechanism design. This book makes an important contribution to the study of bounded rationality by pulling together many separate strands of research in the area of mechanism design, and providing detailed analysis of the impact of societal values on contracts.

Differential Information Economies

Author : Dionysius Glycopantis
Publisher : Springer Science & Business Media
ISBN 13 : 3540269797
Total Pages : 656 pages
Book Rating : 4.5/5 (42 download)

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Book Synopsis Differential Information Economies by : Dionysius Glycopantis

Download or read book Differential Information Economies written by Dionysius Glycopantis and published by Springer Science & Business Media. This book was released on 2005-12-28 with total page 656 pages. Available in PDF, EPUB and Kindle. Book excerpt: One of the main problems in current economic theory is to write contracts which are Pareto optimal, incentive compatible, and also implementable as a perfect Bayesian equilibrium of a dynamic, noncooperative game. The question arises whether it is possible to provide Walrasian type or cooperative equilibrium concepts which have these properties. This volume contains original contributions on noncooperative and cooperative equilibrium notions in economies with differential information and provides answers to the above questions. Moreover, issues of stability, learning and continuity of alternative equilibria are also examined.

Advances in Behavioral Economics

Author : Colin F. Camerer
Publisher : Princeton University Press
ISBN 13 : 0691116822
Total Pages : 768 pages
Book Rating : 4.6/5 (911 download)

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Book Synopsis Advances in Behavioral Economics by : Colin F. Camerer

Download or read book Advances in Behavioral Economics written by Colin F. Camerer and published by Princeton University Press. This book was released on 2004 with total page 768 pages. Available in PDF, EPUB and Kindle. Book excerpt: Today, behavioral economics has become virtually mainstream.

Political Game Theory

Author : Nolan McCarty
Publisher : Cambridge University Press
ISBN 13 : 9781107438637
Total Pages : 0 pages
Book Rating : 4.4/5 (386 download)

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Book Synopsis Political Game Theory by : Nolan McCarty

Download or read book Political Game Theory written by Nolan McCarty and published by Cambridge University Press. This book was released on 2014-10-30 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Political Game Theory is a self-contained introduction to game theory and its applications to political science. The book presents choice theory, social choice theory, static and dynamic games of complete information, static and dynamic games of incomplete information, repeated games, bargaining theory, mechanism design and a mathematical appendix covering, logic, real analysis, calculus and probability theory. The methods employed have many applications in various disciplines including comparative politics, international relations and American politics. Political Game Theory is tailored to students without extensive backgrounds in mathematics, and traditional economics, however there are also many special sections that present technical material that will appeal to more advanced students. A large number of exercises are also provided to practice the skills and techniques discussed.

The Theory of Corporate Finance

Author : Jean Tirole
Publisher : Princeton University Press
ISBN 13 : 1400830222
Total Pages : 657 pages
Book Rating : 4.4/5 (8 download)

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Book Synopsis The Theory of Corporate Finance by : Jean Tirole

Download or read book The Theory of Corporate Finance written by Jean Tirole and published by Princeton University Press. This book was released on 2010-08-26 with total page 657 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Magnificent."—The Economist From the Nobel Prize–winning economist, a groundbreaking and comprehensive account of corporate finance Recent decades have seen great theoretical and empirical advances in the field of corporate finance. Whereas once the subject addressed mainly the financing of corporations—equity, debt, and valuation—today it also embraces crucial issues of governance, liquidity, risk management, relationships between banks and corporations, and the macroeconomic impact of corporations. However, this progress has left in its wake a jumbled array of concepts and models that students are often hard put to make sense of. Here, one of the world's leading economists offers a lucid, unified, and comprehensive introduction to modern corporate finance theory. Jean Tirole builds his landmark book around a single model, using an incentive or contract theory approach. Filling a major gap in the field, The Theory of Corporate Finance is an indispensable resource for graduate and advanced undergraduate students as well as researchers of corporate finance, industrial organization, political economy, development, and macroeconomics. Tirole conveys the organizing principles that structure the analysis of today's key management and public policy issues, such as the reform of corporate governance and auditing; the role of private equity, financial markets, and takeovers; the efficient determination of leverage, dividends, liquidity, and risk management; and the design of managerial incentive packages. He weaves empirical studies into the book's theoretical analysis. And he places the corporation in its broader environment, both microeconomic and macroeconomic, and examines the two-way interaction between the corporate environment and institutions. Setting a new milestone in the field, The Theory of Corporate Finance will be the authoritative text for years to come.

Choice Theory: A Very Short Introduction

Author : Michael Allingham
Publisher : OUP Oxford
ISBN 13 : 0191579262
Total Pages : 144 pages
Book Rating : 4.1/5 (915 download)

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Book Synopsis Choice Theory: A Very Short Introduction by : Michael Allingham

Download or read book Choice Theory: A Very Short Introduction written by Michael Allingham and published by OUP Oxford. This book was released on 2002-08-22 with total page 144 pages. Available in PDF, EPUB and Kindle. Book excerpt: We make choices all the time - about trivial matters, about how to spend our money, about how to spend our time, about what to do with our lives. And we are also constantly judging the decisions other people make as rational or irrational. But what kind of criteria are we applying when we say that a choice is rational? What guides our own choices, especially in cases where we don't have complete information about the outcomes? What strategies should be applied in making decisions which affect a lot of people, as in the case of government policy? This book explores what it means to be rational in all these contexts. It introduces ideas from economics, philosophy, and other areas, showing how the theory applies to decisions in everyday life, and to particular situations such as gambling and the allocation of resources. ABOUT THE SERIES: The Very Short Introductions series from Oxford University Press contains hundreds of titles in almost every subject area. These pocket-sized books are the perfect way to get ahead in a new subject quickly. Our expert authors combine facts, analysis, perspective, new ideas, and enthusiasm to make interesting and challenging topics highly readable.

Oligopoly Pricing

Author : Xavier Vives
Publisher : MIT Press (MA)
ISBN 13 : 9780262220606
Total Pages : 446 pages
Book Rating : 4.2/5 (26 download)

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Book Synopsis Oligopoly Pricing by : Xavier Vives

Download or read book Oligopoly Pricing written by Xavier Vives and published by MIT Press (MA). This book was released on 1999 with total page 446 pages. Available in PDF, EPUB and Kindle. Book excerpt: Applies a modern game-theoretic approach to develop a theory of oligopoly pricing. The text relates classic contributions to the field of modern game theory and discusses basic game-theoretic tools and equilibrium, paying particular attention to developments in the theory of supermodular games.

Uncharted Waters

Author : Richard Damania
Publisher : World Bank Publications
ISBN 13 : 9781464811791
Total Pages : 83 pages
Book Rating : 4.8/5 (117 download)

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Book Synopsis Uncharted Waters by : Richard Damania

Download or read book Uncharted Waters written by Richard Damania and published by World Bank Publications. This book was released on 2017 with total page 83 pages. Available in PDF, EPUB and Kindle. Book excerpt: Uncharted Waters: The New Economics of Water Scarcity

The Belmont Report

Author : United States. National Commission for the Protection of Human Subjects of Biomedical and Behavioral Research
Publisher :
ISBN 13 :
Total Pages : 614 pages
Book Rating : 4.:/5 (327 download)

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Book Synopsis The Belmont Report by : United States. National Commission for the Protection of Human Subjects of Biomedical and Behavioral Research

Download or read book The Belmont Report written by United States. National Commission for the Protection of Human Subjects of Biomedical and Behavioral Research and published by . This book was released on 1978 with total page 614 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Acceptable Risk

Author : Baruch Fischhoff
Publisher : Cambridge University Press
ISBN 13 : 9780521278928
Total Pages : 228 pages
Book Rating : 4.2/5 (789 download)

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Book Synopsis Acceptable Risk by : Baruch Fischhoff

Download or read book Acceptable Risk written by Baruch Fischhoff and published by Cambridge University Press. This book was released on 1981 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: A framework for making decisions about risks, with recommendations for research, public policy, and practice.

Moving Ahead with REDD: Issues, Options and Implications

Author : Arild Angelsen
Publisher : CIFOR
ISBN 13 : 9791412766
Total Pages : 172 pages
Book Rating : 4.7/5 (914 download)

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Book Synopsis Moving Ahead with REDD: Issues, Options and Implications by : Arild Angelsen

Download or read book Moving Ahead with REDD: Issues, Options and Implications written by Arild Angelsen and published by CIFOR. This book was released on 2008-01-01 with total page 172 pages. Available in PDF, EPUB and Kindle. Book excerpt:

World Development Report 1978

Author :
Publisher : World Bank Publications
ISBN 13 : 0821372823
Total Pages : 135 pages
Book Rating : 4.8/5 (213 download)

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Book Synopsis World Development Report 1978 by :

Download or read book World Development Report 1978 written by and published by World Bank Publications. This book was released on 1978 with total page 135 pages. Available in PDF, EPUB and Kindle. Book excerpt: This first report deals with some of the major development issues confronting the developing countries and explores the relationship of the major trends in the international economy to them. It is designed to help clarify some of the linkages between the international economy and domestic strategies in the developing countries against the background of growing interdependence and increasing complexity in the world economy. It assesses the prospects for progress in accelerating growth and alleviating poverty, and identifies some of the major policy issues which will affect these prospects.

The Antitrust Paradox

Author : Robert Bork
Publisher :
ISBN 13 : 9781736089712
Total Pages : 536 pages
Book Rating : 4.0/5 (897 download)

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Book Synopsis The Antitrust Paradox by : Robert Bork

Download or read book The Antitrust Paradox written by Robert Bork and published by . This book was released on 2021-02-22 with total page 536 pages. Available in PDF, EPUB and Kindle. Book excerpt: The most important book on antitrust ever written. It shows how antitrust suits adversely affect the consumer by encouraging a costly form of protection for inefficient and uncompetitive small businesses.

Risk, Uncertainty and Profit

Author : Frank H. Knight
Publisher : Cosimo, Inc.
ISBN 13 : 1602060053
Total Pages : 401 pages
Book Rating : 4.6/5 (2 download)

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Book Synopsis Risk, Uncertainty and Profit by : Frank H. Knight

Download or read book Risk, Uncertainty and Profit written by Frank H. Knight and published by Cosimo, Inc.. This book was released on 2006-11-01 with total page 401 pages. Available in PDF, EPUB and Kindle. Book excerpt: A timeless classic of economic theory that remains fascinating and pertinent today, this is Frank Knight's famous explanation of why perfect competition cannot eliminate profits, the important differences between "risk" and "uncertainty," and the vital role of the entrepreneur in profitmaking. Based on Knight's PhD dissertation, this 1921 work, balancing theory with fact to come to stunning insights, is a distinct pleasure to read. FRANK H. KNIGHT (1885-1972) is considered by some the greatest American scholar of economics of the 20th century. An economics professor at the University of Chicago from 1927 until 1955, he was one of the founders of the Chicago school of economics, which influenced Milton Friedman and George Stigler.

Moral Sentiments and Material Interests

Author : Herbert Gintis
Publisher : MIT Press
ISBN 13 : 9780262072526
Total Pages : 430 pages
Book Rating : 4.0/5 (725 download)

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Book Synopsis Moral Sentiments and Material Interests by : Herbert Gintis

Download or read book Moral Sentiments and Material Interests written by Herbert Gintis and published by MIT Press. This book was released on 2005 with total page 430 pages. Available in PDF, EPUB and Kindle. Book excerpt: Moral Sentiments and Material Interests presents an innovative synthesis of research in different disciplines to argue that cooperation stems not from the stereotypical selfish agent acting out of disguised self-interest but from the presence of "strong reciprocators" in a social group. Presenting an overview of research in economics, anthropology, evolutionary and human biology, social psychology, and sociology, the book deals with both the theoretical foundations and the policy implications of this explanation for cooperation. Chapter authors in the remaining parts of the book discuss the behavioral ecology of cooperation in humans and nonhuman primates, modeling and testing strong reciprocity in economic scenarios, and reciprocity and social policy. The evidence for strong reciprocity in the book includes experiments using the famous Ultimatum Game (in which two players must agree on how to split a certain amount of money or they both get nothing.)

Real and Abstract Analysis

Author : E. Hewitt
Publisher : Springer Science & Business Media
ISBN 13 : 3642880444
Total Pages : 485 pages
Book Rating : 4.6/5 (428 download)

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Book Synopsis Real and Abstract Analysis by : E. Hewitt

Download or read book Real and Abstract Analysis written by E. Hewitt and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 485 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is first of all designed as a text for the course usually called "theory of functions of a real variable". This course is at present cus tomarily offered as a first or second year graduate course in United States universities, although there are signs that this sort of analysis will soon penetrate upper division undergraduate curricula. We have included every topic that we think essential for the training of analysts, and we have also gone down a number of interesting bypaths. We hope too that the book will be useful as a reference for mature mathematicians and other scientific workers. Hence we have presented very general and complete versions of a number of important theorems and constructions. Since these sophisticated versions may be difficult for the beginner, we have given elementary avatars of all important theorems, with appro priate suggestions for skipping. We have given complete definitions, ex planations, and proofs throughout, so that the book should be usable for individual study as well as for a course text. Prerequisites for reading the book are the following. The reader is assumed to know elementary analysis as the subject is set forth, for example, in TOM M. ApOSTOL'S Mathematical Analysis [Addison-Wesley Publ. Co., Reading, Mass., 1957], or WALTER RUDIN'S Principles of M athe nd matical Analysis [2 Ed., McGraw-Hill Book Co., New York, 1964].

The Paradox of Power

Author : David C. Gompert
Publisher : Government Printing Office
ISBN 13 : 9780160915734
Total Pages : 236 pages
Book Rating : 4.9/5 (157 download)

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Book Synopsis The Paradox of Power by : David C. Gompert

Download or read book The Paradox of Power written by David C. Gompert and published by Government Printing Office. This book was released on 2020 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt: The second half of the 20th century featured a strategic competition between the United States and the Soviet Union. That competition avoided World War III in part because during the 1950s, scholars like Henry Kissinger, Thomas Schelling, Herman Kahn, and Albert Wohlstetter analyzed the fundamental nature of nuclear deterrence. Decades of arms control negotiations reinforced these early notions of stability and created a mutual understanding that allowed U.S.-Soviet competition to proceed without armed conflict. The first half of the 21st century will be dominated by the relationship between the United States and China. That relationship is likely to contain elements of both cooperation and competition. Territorial disputes such as those over Taiwan and the South China Sea will be an important feature of this competition, but both are traditional disputes, and traditional solutions suggest themselves. A more difficult set of issues relates to U.S.-Chinese competition and cooperation in three domains in which real strategic harm can be inflicted in the current era: nuclear, space, and cyber. Just as a clearer understanding of the fundamental principles of nuclear deterrence maintained adequate stability during the Cold War, a clearer understanding of the characteristics of these three domains can provide the underpinnings of strategic stability between the United States and China in the decades ahead. That is what this book is about.