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Misperceptions Moral Hazard And Incentives In Groups
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Book Synopsis Misperceptions, Moral Hazard, and Incentives in Groups by : Martin Gaynor
Download or read book Misperceptions, Moral Hazard, and Incentives in Groups written by Martin Gaynor and published by . This book was released on 1984 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recent work has shown that, in the presence of moral hazard, balanced budget Nash equilibria in groups are not pareto-optimal. This work shows that when agents misperceive the effects of their actions on the joint outcome, there exist a set of sharing rules which balance the budget and lead to a pareto-optimal Nash equilibria. Journal of Economic Literature, Classification Numbers: 022, 026, 511.
Book Synopsis Journal of Institutional and Theoretical Economics by :
Download or read book Journal of Institutional and Theoretical Economics written by and published by . This book was released on 1995 with total page 650 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis "Money's Worth" of Social Security by : United States. Congress. Senate. Committee on Finance
Download or read book "Money's Worth" of Social Security written by United States. Congress. Senate. Committee on Finance and published by . This book was released on 1993 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Competition and Quality in Health Care Markets by : Martin Gaynor
Download or read book Competition and Quality in Health Care Markets written by Martin Gaynor and published by Now Publishers Inc. This book was released on 2006 with total page 83 pages. Available in PDF, EPUB and Kindle. Book excerpt: Provides an economic assessment of the impact of competition on quality in health care markets. This book offers performance standards for competition; findings from economic theory; and, empirical evidence on health care competition and quality.
Download or read book Journal of Economic Literature written by and published by . This book was released on 1994 with total page 1164 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Error Components in Grouped Data by : William T. Dickens
Download or read book Error Components in Grouped Data written by William T. Dickens and published by . This book was released on 1985 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: When estimating linear models using grouped data researchers typically weight each observation by the group size. Under the assumption that the regression errors for the underlying micro data have expected values of zero, are independent and are homoscedastic, this procedure produces best linear unbiased estimates. This note argues that for most applications in economics the assumption that errors are independent within groups is inappropriate. Since grouping is commonly done on the basis of common observed characteristics, it is inappropriate to assume that there are no unobserved characteristics in common. If group members have unobserved characteristics in common, individual errors will be correlated. If errors are correlated within groups and group sizes are large then heteroscedasticity may be relatively unimportant and weighting by group size may exacerbate heteroscedasticity rather than eliminate it. Two examples presented here suggest that this may be the effect of weighting in most non-experimental applications. In many situations unweighted ordinary least squares may be a preferred alternative. For those cases where it is not, a maximum likelihood and an asymptotically efficient two-step generalized least squares estimator are proposed. An extension of the two-step estimator for grouped binary data is also presented.
Book Synopsis New Econometric Techniques for Macroeconomic Policy Evaluation by : John B. Taylor
Download or read book New Econometric Techniques for Macroeconomic Policy Evaluation written by John B. Taylor and published by . This book was released on 1984 with total page 114 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Testing the Random Walk Hypothesis by : Robert J. Shiller
Download or read book Testing the Random Walk Hypothesis written by Robert J. Shiller and published by . This book was released on 1985 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: Power functions of tests of the random walk hypothesis versus stationary first order autoregressive alternatives are tabulated for samples of fixed span but various frequencies of observation.
Book Synopsis Errors in Variables in Panel Data by : Zvi Griliches
Download or read book Errors in Variables in Panel Data written by Zvi Griliches and published by . This book was released on 1984 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: Panel data based on various longitudinal surveys have become ubiquitous in economics in recent years. Estimation using the analysis of covariance approach allows for control of various "individual effects" by estimation of the relevant relationships from the "within" dimension of the data. Quite often, however, the "within" results are unsatisfactory, "too low" and insignificant. Errors of measurement in the independent variables whose relative importance gets magnified in the within dimension are often blamed for this outcome. However, the standard errors-in-variables model has not been applied widely, partly because in the usual micro data context it requires extraneous information to identify the parameters of interest. In the panel data context a variety of errors-in-variables models may be identifiable and estimable without the use of external instruments. We develop this idea and illustrate its application in a relatively simple but not uninteresting case: the estimation of "labor demand" relationships, also known as the "short run increasing returns to scale" puzzle.
Book Synopsis Implementing Causality Tests with Panel Data, with an Example from Local Public Finance by : Douglas Holtz-Eakin
Download or read book Implementing Causality Tests with Panel Data, with an Example from Local Public Finance written by Douglas Holtz-Eakin and published by . This book was released on 1985 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Rational Expectations Models with a Continuum of Convergent Solutions by : Michael Mussa
Download or read book Rational Expectations Models with a Continuum of Convergent Solutions written by Michael Mussa and published by . This book was released on 1984 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines five examples of rational expectations models with a continuum of convergent solutions and demonstrates serious difficulties in the economic interpretation of these solutions. The five examples are (1) a model of optimal capital accumulation with a negative rate of time preference, (2) Taylor's (1977) linear rational expectations model of macroeconomic equilibrium; (3) Calvo's (1984) model of contract setting and price dynamics; (4) Obstfeld's (1984) equilibrium model of monetary dynamics with individual optimizing agents; and (5) Calvo's (1978) life-cycle model of savings and asset valuation. In every case, when these models yield a continuum of convergent infinite horizon solutions, these solutions fail to exhibit economically appropriate, forward looking dependence of the endogenous variables on the paths of the exogenous forcing variab1es--a difficulty that does not arise under the circumstances where these models yield unique convergent infinite horizon solutions. Further, the three models that have natural finite horizon versions, either lack finite horizon solutions or have solutions that do not converge to any of the infinite horizon solutions. Again, this difficulty arises only under the circumstances where these models have a continuum of infinite horizon solutions.
Book Synopsis Publications by : National Bureau of Economic Research
Download or read book Publications written by National Bureau of Economic Research and published by . This book was released on 1921 with total page 128 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Handbook on Experimental Economics and the Environment by : John A. List
Download or read book Handbook on Experimental Economics and the Environment written by John A. List and published by Edward Elgar Publishing. This book was released on 2013-01-01 with total page 521 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'Until not much more than 20 years ago, economists frequently lamented the fact that they were limited in their empirical analyses to statistical assessments of market behavior, because controlled economic experiments were (thought to be) infeasible, unethical, or both. Much has changed in the intervening years! In this new volume, John List, Michael Price, and their co-authors provide a diverse set of applications of experimental approaches to the environmental economics realm. This is among the most promising of new areas of research in the economics of the environment, and this book provides a superb point of entry for experts and novices alike.' – Robert Stavins, Harvard University, US Laboratory and field experiments have grown significantly in prominence over the past decade. The experimental method provides randomization in key variables therefore permitting a deeper understanding of important economic phenomena. This path-breaking volume provides a valuable collection of experimental work within the area of environmental and resource economics and showcases how laboratory and field experiments can be used for both positive and normative purposes. The Handbook provides a timely reminder to social scientists, policymakers, international bodies, and practitioners that appropriate decision-making relies on immediate and sharp feedback, both of which are key features of proper experimentation. This book includes a collection of research that makes use of the experimental method to explore key issues within environmental and resource economics that will prove invaluable for both students and academics working in these areas.
Book Synopsis The Entrepreneurial State by : Mariana Mazzucato
Download or read book The Entrepreneurial State written by Mariana Mazzucato and published by Public Affairs. This book was released on 2015-10-06 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: Companies like Google and Apple heralded the information revolution, and opened the doors for Silicon Valley to grow into an engine of dazzling technological development, that today champions the free market that engendered it against the supposedly stifling encroachment of government regulation. But is that really the case? In this sharp and controversial expose, The Entrepreneurial State, Mariana Mazzucato debunks the pervasive myth that the state is a laggard, bureaucratic apparatus at odds with a dynamic private sector. Instead she reveals in case study after case study that, in fact, the opposite is true: the state is our boldest and most valuable innovator. The technology revolution would never have happened without support from the US Government. The breakthroughs--GPS, touch-screen displays, the Internet, and voice-activated AI--that enabled legendary Apple products to be smart successes were, in fact, all developed with support from the state. Mazzucato reveals that many successful entrepreneurs like Steve Jobs integrated state-funded technological developments into their products and then reaped the rewards themselves. The algorithm behind Google’s search engine was initially sponsored by NASA. And 75% of NMEs--new, often-ground-breaking drugs not derivative of existing substances--trace their research to National Institutes of Health (NIH) labs. The American government, it turns out, has been enormously successfully at stimulating scientific and technological advancement. But by 2009, just some months following the Great Recession--the US government, constrained by austerity measures, started disinvesting from its holdings in research fields like health, energy, electronics. The trend is likely to continue, and the repercussions of these policies could wreak havoc on our technology and science sectors. But Mazzucato remains optimistic. If managed correctly, state-sponsored development of Green technology, for instance, could be as efficacious as suburbanization & post-war reconstruction in the mid-twentieth century, and unleash a wide-spread golden age in the global economy. The limitations of natural resources and the threat of global warming could become the most powerful driver of growth, employment, and innovation within just one generation--but to be successful, the Green Revolution will depend on the initiatives of proactive governments. By not admitting the State’s role in economic and technological progress, we are socializing only the risks of investing in innovation, while privatizing the rewards in the hands of only a few businesses. This, Mazzucato argues, hurts both future of innovation and equity in modern-day capitalism. For policy-makers, Silicon Valley start-up founders, venture-capitalists, and economists alike, The Entrepreneurial State stirs up much needed debate and offers up a brilliant corrective to spurious beliefs: to thrive, American businesses have always and will need to depend on the support of our country’s most audacious entrepreneur, the state.
Book Synopsis Moral Courage in Organizations: Doing the Right Thing at Work by : Debra R. Comer
Download or read book Moral Courage in Organizations: Doing the Right Thing at Work written by Debra R. Comer and published by M.E. Sharpe. This book was released on 2015-05-18 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book underscores the ethical pitfalls that one can expect to encounter at work and enhances one's ability to do the right thing, despite these organizational pressures. It is a potent tool to foster more ethical
Download or read book Armed Groups written by Peter G. Thompson and published by Rowman & Littlefield. This book was released on 2023-08-02 with total page 293 pages. Available in PDF, EPUB and Kindle. Book excerpt: Armed Groups is the most comprehensive text to provide a framework for categorizing the key actors that pose a threat to today’s security arena—terrorists, mercenaries, insurgents, militias, and transnational criminal organizations—and analyzing their characteristics to provide a thorough overview. Drawing on case studies, histories, and a rich, yet underexplored theoretical literature, this study presents students with the tools to methodically examine these often overlooked, but key drivers of violence in the international system. Additionally, globalization, the privatization of force, and the return of great power competition have altered the security landscape and enhanced armed group threats. These forces have also led to an increasing overlap between conflict and crime, and a growth in the state use of armed group proxies. Coming to terms with armed groups—their objectives, strategies, internal composition, and the environment that fosters them—remains a critical task for practitioners, scholars, and policy makers alike in understanding the changing nature of war. This second edition, updated throughout, includes new material on the importance of private military companies, the shift to sub-Saharan Africa as an important center of conflict, the return of great power politics, the increased use of social media and advanced technology, and the increasingly criminalized nature of armed groups. ,
Book Synopsis NBER Reporter by : National Bureau of Economic Research
Download or read book NBER Reporter written by National Bureau of Economic Research and published by . This book was released on 1987 with total page 386 pages. Available in PDF, EPUB and Kindle. Book excerpt:
