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Incentives And Political Economy
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Book Synopsis Incentives and Political Economy by : Jean-Jacques Laffont
Download or read book Incentives and Political Economy written by Jean-Jacques Laffont and published by Oxford University Press. This book was released on 2000-03-30 with total page 270 pages. Available in PDF, EPUB and Kindle. Book excerpt: Mainstream economics has recognized only recently the necessity to incorporate political constraints into economic analysis intended for policy advisors. Incentives and Political Economy uses recent advances in contract theory to build a normative approach to constitutional design in economic environments.The first part of the book remains in the tradition of benevolent constitutional design with complete contracting. It treats politicians as informed supervisors and studies how the Constitution should control them, in particular to avoid capture by interest groups. Incentive theories for the separation of powers or systems of checks and balances are developed.The second part of the book recognises the incompleteness of the constitutional contract which leaves discretion to the politicans selected by the electoral process. Asymmetric information associates information rents with economic policies and the political game becomes a game of costly redistribution of those rents. Professor Laffont investigates the trade-offs between an inflexible constitution which leaves little discretion to politicians but sacrifices ex post efficiency and a constitutionweighted towards ex post efficiency but also giving considerable discretion to politicians to pursue private agendas.The final part of the book reconsiders the modeling of collusion given asymmetric information. It proposes a new approach to characterizing incentives constraints for group behaviour when asymmetric information is non-verifiable. This provides a methodology to characterise the optimal constitutional response to activities of interest groups and to study the design of any institution in which group behavior is important.
Book Synopsis Incentives to Pander by : Nathan M. Jensen
Download or read book Incentives to Pander written by Nathan M. Jensen and published by Cambridge University Press. This book was released on 2018-03-15 with total page 271 pages. Available in PDF, EPUB and Kindle. Book excerpt: Policies targeting individual companies for economic development incentives, such as tax holidays and abatements, are generally seen as inefficient, economically costly, and distortionary. Despite this evidence, politicians still choose to use these policies to claim credit for attracting investment. Thus, while fiscal incentives are economically inefficient, they pose an effective pandering strategy for politicians. Using original surveys of voters in the United States, Canada and the United Kingdom, as well as data on incentive use by politicians in the US, Vietnam and Russia, this book provides compelling evidence for the use of fiscal incentives for political gain and shows how such pandering appears to be associated with growing economic inequality. As national and subnational governments surrender valuable tax revenue to attract businesses in the vain hope of long-term economic growth, they are left with fiscal shortfalls that have been filled through regressive sales taxes, police fines and penalties, and cuts to public education.
Download or read book Incentives written by Donald E. Campbell and published by Cambridge University Press. This book was released on 2018-02-22 with total page 699 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines incentives at work to see how and how well coordination is achieved by motivating individual decision makers.
Book Synopsis Knowledge and Incentives in Policy by : Stefanie Haeffele
Download or read book Knowledge and Incentives in Policy written by Stefanie Haeffele and published by Rowman & Littlefield. This book was released on 2018-06-04 with total page 302 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book, authored by public policy practitioners and researchers, tackle such pressing issues as public education, the process for approving medical devices, tax policy, and land use regulation.
Book Synopsis Investment Incentives and the Global Competition for Capital by : K. Thomas
Download or read book Investment Incentives and the Global Competition for Capital written by K. Thomas and published by Springer. This book was released on 2010-11-24 with total page 201 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a global study of government subsidies to attract investment. The book shows how corporations use site selection as rent extraction, with developing countries investing more than developed ones. It demonstrates that incentive use is rarely a good policy, especially for countries without adequate education and infrastructure.
Book Synopsis The Theory of Incentives by : Jean-Jacques Laffont
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 440 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.
Book Synopsis The Moral Economy by : Samuel Bowles
Download or read book The Moral Economy written by Samuel Bowles and published by Yale University Press. This book was released on 2016-05-28 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt: Should the idea of economic man—the amoral and self-interested Homo economicus—determine how we expect people to respond to monetary rewards, punishments, and other incentives? Samuel Bowles answers with a resounding “no.” Policies that follow from this paradigm, he shows, may “crowd out” ethical and generous motives and thus backfire. But incentives per se are not really the culprit. Bowles shows that crowding out occurs when the message conveyed by fines and rewards is that self-interest is expected, that the employer thinks the workforce is lazy, or that the citizen cannot otherwise be trusted to contribute to the public good. Using historical and recent case studies as well as behavioral experiments, Bowles shows how well-designed incentives can crowd in the civic motives on which good governance depends.
Book Synopsis Making Sense of Incentives by : Timothy J. Bartik
Download or read book Making Sense of Incentives written by Timothy J. Bartik and published by W.E. Upjohn Institute. This book was released on 2019-10-15 with total page 180 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bartik provides a clear and concise overview of how state and local governments employ economic development incentives in order to lure companies to set up shop—and provide new jobs—in needy local labor markets. He shows that many such incentive offers are wasteful and he provides guidance, based on decades of research, on how to improve these programs.
Book Synopsis Incentives and Institutions by : Serguey Braguinsky
Download or read book Incentives and Institutions written by Serguey Braguinsky and published by Princeton University Press. This book was released on 2021-02-09 with total page 295 pages. Available in PDF, EPUB and Kindle. Book excerpt: Here, for the first time, two of Russia's leading economists provide an authoritative analysis of the transition to a democratic market economy that has taken place in Russia since 1990. Serguey Braguinsky, a Russian economist with extensive international experience, and Grigory Yavlinsky, leader of the liberal "Yabloko" party and a major public figure in Russia, focus on the institutions that are critical to a successful transition and the economic incentives needed to make these institutions work. Finally, they discuss in detail the specific components of the economic processes that are necessary for economic transition in general and they draw lessons that can be applied to other nations dealing with similar transitions. In 1989, Grigory Yavlinsky became a member of the Commission for Economic Reform and wrote the groundbreaking "500 Day Plan," which outlined the first program of transition to a market economy. Two years later, he co-wrote the program of strategic cooperation between the Soviet government and the West (known as the "Grand Bargain"). Here he and Serguey Braguinsky examine what went wrong with the Russian plan--and what is needed to put the economy back on the road to becoming a fully functioning market economy. The first section of the book presents a new interpretation of the political economy of the socialist state and the incentives and institutions that underpin it, with an emphasis on the present Russian situation. The second part deals with the political economy of "spontaneous transition" and the inefficiencies inherent in economies that lack the organizations and institutions that inhere in established Western democratic economies. In the final section, the authors present a program of actions to put the economic transition in Russia back on track, based on their assessment of the actual current state of both the economy and the government. Their approach is unique in emphasizing organizational evolution at the microeconomic level instead of stressing macroeconomic issues such as money and inflation that are at the heart of most arguments. This is a thoughtful and thought-provoking book and one that will be widely discussed and debated.
Book Synopsis Information, Incentives, and Economic Mechanisms by : Theodore Groves
Download or read book Information, Incentives, and Economic Mechanisms written by Theodore Groves and published by U of Minnesota Press. This book was released on 1987 with total page 410 pages. Available in PDF, EPUB and Kindle. Book excerpt: Printbegrænsninger: Der kan printes 10 sider ad gangen og max. 40 sider pr. session
Book Synopsis Economic Incentives and Environmental Policies by : J.B. Opschoor
Download or read book Economic Incentives and Environmental Policies written by J.B. Opschoor and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 306 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book contains a collection of papers on economic incentives and environmental policies which result from the authors' joint research work in the program `Environment, Science and Society', conducted under the auspices of the European Science Foundation, with whose cooperation the book has been published. The work concentrates on the scientific and methodological aspects of the development, implementation and evaluation of economic instruments at a national level. The research is both theoretical and empirical. At a theoretical level attention is given to the dynamics of instrument choice in various political and economic contexts, and to the means for evaluating economic instruments in terms of their effectiveness and efficiency. At an empirical level the research seeks to investigate the performance of economic instruments in reality and to explore options for new approaches on the interface between technology, economy and the environment. A subject index complements this first volume in the ESF `Environment, Science and Society' series.
Download or read book Incentives written by Donald E. Campbell and published by Cambridge University Press. This book was released on 2018-02-22 with total page 700 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Economic Statecraft and Foreign Policy by : Jean-Marc F. Blanchard
Download or read book Economic Statecraft and Foreign Policy written by Jean-Marc F. Blanchard and published by Routledge. This book was released on 2013-07-18 with total page 282 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book develops a unified theory of economic statecraft to clarify when and how sanctions and incentives can be used effectively to secure meaningful policy concessions. High-profile applications of economic statecraft have yielded varying degrees of success. The mixed record of economic incentives and economic sanctions in many cases raises important questions. Under what conditions can states modify the behaviour of other states by offering them tangible economic rewards or by threatening to disrupt existing economic relations? To what extent does the success of economic statecraft depend on the magnitude of economic penalties and rewards? In order to answer these questions, this book develops two analytic models: one weighs the threats economic statecraft poses to the Target’s Strategic Interests (TSI); while the other (stateness) assesses the degree to which the target state is insulated from domestic political pressures that senders attempt to generate or exploit. Through a series of carefully crafted case studies, including African apartheid and Japanese incentives to obtain the return of the Northern Territories, the authors demonstrate how their model can yield important policy insights in regards to contemporary economic sanctions and incentives cases, such as Iran and North Korea. This book will be of much interest to students of statecraft, sanctions, diplomacy, foreign policy, and international security in general.
Book Synopsis The Political Economy of Decentralization Reforms by : Kent Eaton
Download or read book The Political Economy of Decentralization Reforms written by Kent Eaton and published by World Bank Publications. This book was released on 2011 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume presents a framework designed to help international development partners consider the relevance of political economy issues for their programmatic support to decentralization and local government reform. The intention is neither to advocate decentralization in general or in any particular form, nor to presume or privilege any particular decentralization objective. Instead, the purpose is to document the potential value of better understanding how (primarily national and intergovernmental) political and institutional dynamics do or could affect the scope for realizing decentralization reforms aligned with commonly advocated service delivery, governance, and poverty reduction goals. The underlying premise is that systematic analysis of these issues can productively complement the dominantly technical diagnostic work typically carried out by development partners. Specifically, development partners can benefit from better understanding the practical significance of motives that drive politicians and bureaucrats to support or oppose reform at various stages of the decentralization process, from making an initial reform decision to detailed design and implementation. In addition, the authors address how these incentives can weaken, strengthen, or shift in response to changes in political and economic conditions that arise after reform begins. A general approach to conducting political economy of decentralization analysis is outlined, recognizing the need to tailor such analysis to the particular country context. This volume is based on literature reviews and knowledge derived from selected country experiences.
Book Synopsis Political Economy and Policy Analysis by : Antonio Merlo
Download or read book Political Economy and Policy Analysis written by Antonio Merlo and published by Routledge. This book was released on 2018-11-14 with total page 198 pages. Available in PDF, EPUB and Kindle. Book excerpt: Most of economics takes politics for granted. Through some (often implausible) assumptions, it seeks to explain away political structures by characterizing them as stable and predictable or as inconsequential in understanding what goes on in an economy. Such attempts are misguided, and this book shows how governments and political institutions are composed of people who respond to incentives and whose behavior and choices can be studied through the lens of economics. This book aims to bridge the gap between economics and politics, and in doing so hopes to instill in the reader a deeper appreciation for social scientific thinking. Opening with a refresher on microeconomics and an introduction to the toolkit of political economy, it ensures that the necessary building blocks are in place before building up from the level of the individual and the firm to show how a political–economic equilibrium can be achieved. The text explores how to separate primitives—the external parts of a model that we cannot affect—from outcomes—the internal parts of a model that we can. Moreover, it demonstrates that economic and political issues alike can be studied within the same general framework of analysis. Political Economy and Policy Analysis offers readers the chance to gain a more sophisticated understanding of political processes, economic processes, and the interplay among them. Adopting an applied microeconomics approach, it will be ideal for upper-level undergraduate or postgraduate courses on political economy, public choice, or policy analysis. A complementary workbook with exercises and solutions that accompanies Political Economy and Policy Analysis is available for download under the eResources tab at: https://www.routledge.com/Political-Economy-and-Policy-Analysis/Merlo/p/book/9781138591783.
Book Synopsis The Economic Theory of Incentives by : David Martimort
Download or read book The Economic Theory of Incentives written by David Martimort and published by . This book was released on 2017-11-24 with total page 1904 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis The Principal Agent Model by : Jean-Jacques Laffont
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.
