Optimal Contract Mechanism Design For Performance Based Contracts

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Optimal Contract Mechanism Design for Performance-based Contracts

Author : Diwakar Gupta
Publisher :
ISBN 13 :
Total Pages : 53 pages
Book Rating : 4.:/5 (872 download)

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Book Synopsis Optimal Contract Mechanism Design for Performance-based Contracts by : Diwakar Gupta

Download or read book Optimal Contract Mechanism Design for Performance-based Contracts written by Diwakar Gupta and published by . This book was released on 2011 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report explores the possibility of implementing a performance-based contract (PBC) in highway construction and maintenance. PBC allows a state transportation agency (STA) to use an incentive structure to induce the contractor to take a long-term interest in the functionality of the highway without excessive cost to the STA. First, an overview of contract mechanisms and existing PBCs in industry is provided. Then, a summary of performance-based specifications illustrates that contractors can adopt construction and maintenance policies to significantly improve pavement performance. Finally, a framework for choosing PBCs to achieve STAs' goals is provided, with a discussion of some of the difficulties associated with implementation. It can be seen that, in a competitive bidding process, the additional cost of incentives is not larger than the additional value gained by higher-quality work.

Essays in Robust Mechanism and Contract Design

Author : Aleksei Suzdaltsev
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (115 download)

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Book Synopsis Essays in Robust Mechanism and Contract Design by : Aleksei Suzdaltsev

Download or read book Essays in Robust Mechanism and Contract Design written by Aleksei Suzdaltsev and published by . This book was released on 2020 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: In this thesis, we propose solutions to three problems in the area of robust mechanism design. The first two problems concern revenue maximization by a seller facing several potential buyers whose knowledge of the probability distribution of buyers' valuations is scarce. The third problem concerns contracting under unknown production technology. More specifically: In Chapter 2 (first substantive chapter), we consider the following model. An indivisible object may be sold to one of n agents who know their valuations of the object. The seller would like to use a revenue-maximizing mechanism but her knowledge of the values' distribution is limited: she knows only the means (which may be different) an upper bound for valuations. Valuations may be correlated. Using a constructive approach based on duality, we prove that a mechanism that maximizes the worst-case expected revenue among all deterministic dominant-strategy incentive compatible, ex post individually rational mechanisms takes the following form: (1) the bidders submit bids; (2) for each bidder, a bidder-specific linear function of the bid is calculated (we call it a ``linear score''); (3) the object is awarded to the agent with the highest score, provided it's nonnegative; (4) the winning bidder pays the minimal amount he would need to bid to still win in the auction. The set of optimal mechanisms includes other mechanisms but all those have to be close to the optimal linear score auction in a certain sense. When means are high, all optimal mechanisms share the linearity property. Second-price auction without a reserve is an optimal mechanism when the number of symmetric bidders is sufficiently high. In Chapter 3, we consider a related problem in which the valuations are constrained to be independent draws from a partially known distribution. The seller knows one or two moments of the distribution. We ask what would be a reserve-price in a second-price auction that maximizes worst-case expected revenue. Using a technique different from Chapter 2, we prove that it is always optimal to set the reserve price to seller's own valuation. However, the maxmin reserve price may not be unique. If the number of bidders is sufficiently high, all prices below the seller's valuation, including zero, are also optimal. In the final chapter, we seek a robust solution of a hidden-action, rather than a hidden-information problem. A principal is uncertain about a technology mapping an agent's effort to the distribution of output. The agent is risk neutral and there is a participation constraint but no limited liability constraint. Transfers can be costly. An example of this setting is the case where the principal is a society trying to properly incentivize a firm to carry out innovation. We first show that when the principal employs minimax-regret criterion in the face of the technological uncertainty, an optimal contract is affine. We then characterize the full set of optimal contracts. A contract is optimal if and only if it lies within certain affine, increasing bounds that collapse to a point when output reaches its maximum value.

Maintenance, Safety, Risk, Management and Life-Cycle Performance of Bridges

Author : Nigel Powers
Publisher : CRC Press
ISBN 13 : 1351745964
Total Pages : 5447 pages
Book Rating : 4.3/5 (517 download)

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Book Synopsis Maintenance, Safety, Risk, Management and Life-Cycle Performance of Bridges by : Nigel Powers

Download or read book Maintenance, Safety, Risk, Management and Life-Cycle Performance of Bridges written by Nigel Powers and published by CRC Press. This book was released on 2018-07-04 with total page 5447 pages. Available in PDF, EPUB and Kindle. Book excerpt: Maintenance, Safety, Risk, Management and Life-Cycle Performance of Bridges contains lectures and papers presented at the Ninth International Conference on Bridge Maintenance, Safety and Management (IABMAS 2018), held in Melbourne, Australia, 9-13 July 2018. This volume consists of a book of extended abstracts and a USB card containing the full papers of 393 contributions presented at IABMAS 2018, including the T.Y. Lin Lecture, 10 Keynote Lectures, and 382 technical papers from 40 countries. The contributions presented at IABMAS 2018 deal with the state of the art as well as emerging concepts and innovative applications related to the main aspects of bridge maintenance, safety, risk, management and life-cycle performance. Major topics include: new design methods, bridge codes, heavy vehicle and load models, bridge management systems, prediction of future traffic models, service life prediction, residual service life, sustainability and life-cycle assessments, maintenance strategies, bridge diagnostics, health monitoring, non-destructive testing, field testing, safety and serviceability, assessment and evaluation, damage identification, deterioration modelling, repair and retrofitting strategies, bridge reliability, fatigue and corrosion, extreme loads, advanced experimental simulations, and advanced computer simulations, among others. This volume provides both an up-to-date overview of the field of bridge engineering and significant contributions to the process of more rational decision-making on bridge maintenance, safety, risk, management and life-cycle performance of bridges for the purpose of enhancing the welfare of society. The Editors hope that these Proceedings will serve as a valuable reference to all concerned with bridge structure and infrastructure systems, including students, researchers and engineers from all areas of bridge engineering.

Handbook of Behavioral Economics - Foundations and Applications 1

Author :
Publisher : Elsevier
ISBN 13 : 0444633898
Total Pages : 748 pages
Book Rating : 4.4/5 (446 download)

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Book Synopsis Handbook of Behavioral Economics - Foundations and Applications 1 by :

Download or read book Handbook of Behavioral Economics - Foundations and Applications 1 written by and published by Elsevier. This book was released on 2018-09-27 with total page 748 pages. Available in PDF, EPUB and Kindle. Book excerpt: Handbook of Behavioral Economics: Foundations and Applications presents the concepts and tools of behavioral economics. Its authors are all economists who share a belief that the objective of behavioral economics is to enrich, rather than to destroy or replace, standard economics. They provide authoritative perspectives on the value to economic inquiry of insights gained from psychology. Specific chapters in this first volume cover reference-dependent preferences, asset markets, household finance, corporate finance, public economics, industrial organization, and structural behavioural economics. This Handbook provides authoritative summaries by experts in respective subfields regarding where behavioral economics has been; what it has so far accomplished; and its promise for the future. This taking-stock is just what Behavioral Economics needs at this stage of its so-far successful career. Helps academic and non-academic economists understand recent, rapid changes in theoretical and empirical advances within behavioral economics Designed for economists already convinced of the benefits of behavioral economics and mainstream economists who feel threatened by new developments in behavioral economics Written for those who wish to become quickly acquainted with behavioral economics

Performance-Based Contracting

Author : Steve McKinzie
Publisher :
ISBN 13 : 9780984403837
Total Pages : 234 pages
Book Rating : 4.4/5 (38 download)

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Book Synopsis Performance-Based Contracting by : Steve McKinzie

Download or read book Performance-Based Contracting written by Steve McKinzie and published by . This book was released on 2011-01-01 with total page 234 pages. Available in PDF, EPUB and Kindle. Book excerpt: Book Review: Performance-Based Contracting Step by Step Process to Achieve - Checklists Toolkit Best Practices Multi-million and billion-dollar government contracts are increasingly being awarded as a result of performance-based statements of work developed by government acquisition teams. In the past, a federal agency would issue a statement of work setting out the work to be done, minimum requirements, performance dates and so on.Today, more and more federal agencies are requesting performance work statements (PWS) which turns the procedure around. Simply defined, performance-based contracting allows government to acquire services via contracts that define what is to be achieved, not necessarily how it is done. Contractors are required to develop the statement of work using performance metrics, measuring tools and a quality assurance plan. It enables contractors to follow an innovative development approach and allows the agency to evaluate each proposal for performance benefits before the contract is awarded.Writing a Performance-Based Statement of Work is not easy. Focusing on the product to be purchased and outcomes and not the process requires discipline and guidance. This book, Performance Based Contracting, is an invaluable guide in understanding this process and helping government put in place more effective, efficient acquisitions and industry to secure major federal contracts.The book shows you how to write a successful performance-based statement of work with lots of case studies and examples. Chapters lead you through all the steps necessary from planning and market research to writing the performance-based statement of work and everything in between.The book highlights the key elements of performance-based acquisition which encourage innovative business practices and emphasizes that performance-based acquisition requires the participation of all stakeholders the users, the acquisition workforce and industry to ensure the requirement is adequately satisfied.The book also stresses that it is vital that all stakeholders understand the importance of their role in the process which is comprehensive and must include the user, and many different functional team members including financial managers, legal advisors, program (project) managers, contracting officers, contracting specialists and so on. It is essential that industry be a key participant, especially, but not only, when the requirements are complex.This is a ''must read'' book for anyone and everyone involved in the federal contracting whether they are seeking to win contracts or are responsible for awarding and managing them.The authors have researched extensively through federal sources to bring the reader the most comprehensive desk reference available on all aspects of the performance-based contracting. This book has drawn heavily on the authoritative materials published by the a wide range of federal agencies including the Government Accountability Office (GAO), the General Services Administration (GSA), the Federal Emergency Management Agency (FEMA), the Department of Homeland Security (DHS), and Headquarters, Department of the Army. Then, the authors have organized the information into an organized and logical presentation, added their own experience and a high value step-by-step process to provide a valuable resource to contract veterans and newcomers alike.The easy to follow step-by-step process explains the duties and responsibilities of all parties in the acquisition process, key skill areas required and how these are applied throughout the contracting life cycle. Finally, the authors provide a wealth of forms, report formats, checklists checklists and more checklists that guide all key individuals through the performance-based process.Throughout this handbook, there are case studies, checklists, exercises and structured "if-then" guides designed to prepare contract writers and evaluators for the tasks in hand, give them a powerful set of management tools, motivate them to succeed and inspire them to adopt best practices in order to achieve even more positive performance outcomes.

Artificial Intelligence, Game Theory and Mechanism Design in Politics

Author : Tshilidzi Marwala
Publisher : Springer Nature
ISBN 13 : 9819951038
Total Pages : 221 pages
Book Rating : 4.8/5 (199 download)

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Book Synopsis Artificial Intelligence, Game Theory and Mechanism Design in Politics by : Tshilidzi Marwala

Download or read book Artificial Intelligence, Game Theory and Mechanism Design in Politics written by Tshilidzi Marwala and published by Springer Nature. This book was released on 2023-08-04 with total page 221 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores how AI and mechanism design can provide a new framework for international politics. The international political system is all manners in which countries, governments and people relate. Mechanism design in international politics relates to identifying rules that define relationships between people and countries that achieve a particular outcome, e.g., peace or more trade or democracy or economic development. Artificial intelligence is technique of making machines intelligent. This book explores mechanism design and artificial intelligence in international politics and applies these technologies to politics, economy and society. This book will be of interest to scholars of international relations, politics, sustainable development, and artificial intelligence.

Essays on Dynamic Contracting

Author : Ilia Krasikov
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (111 download)

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Book Synopsis Essays on Dynamic Contracting by : Ilia Krasikov

Download or read book Essays on Dynamic Contracting written by Ilia Krasikov and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The thesis focuses on understanding the dynamic nature of contracts used in various economic context, specifically financial economics and industrial organization. The first chapter "A Theory of Dynamic Contracting with Financial Constraints'' draws on a large empirical literature documenting that small businesses are financially constrained, and operate at an inefficient level. In the paper, we build a theoretical model where financial constraints arise endogenously as a product of interaction between persistent agency frictions and agent's inability to raise external capital.The paper makes two general points. First, efficiency is a certainty in the long run, and it is achieved through monotone slacking of financial constraints. Second, persistence makes the path towards efficiency much more constrained in comparison to the model with the iid technology. In particular, we show that dynamic agency models with persistence predict a larger cross section of firms in the economy to be financially constrained.At a technical level, we invoke the recursive approach of \citet{aps}, using a two-dimensional vector of promised utilities as a state variable. We show that the optimal contract always stays in a strict subset of the recursive domain termed the shell, and the optimal contract is monotone within this set. We also verify that the results continue to hold in continuous time.The second chapter "Dynamic Contracts with Unequal Discounting'' looks at dynamic screening with soft financial constraints. In contrast to the first paper, the agent can raise money but at a different rate than the principal.We solve for the optimal contract and show that efficiency is not attainable with soft financial constraints. Therefore, the predictions of dynamic models of mechanism design are not robust to the assumption of equal discounting. For the large set of parameters, the optimal contract has the restart property- dynamic distortions are a function of the number of consecutive bad shocks, and once the good shock arrives the process repeats again. We also show that restricting attention to contracts which have the restart property is in general approximately optimal. The endogenous resetting aspect of restart contracts shares features of various contracts used in practice.In the third chapter "On Dynamic Pricing'', we explore dynamic price discrimination, extending a canonical model of monopolistic screening to repeated sales, where a seller uses timing of purchases as a screening instrument. The importance of time as an instrument for price discrimination has been understood since Varian [1989].In the paper, we are aiming to provide a formal analysis of pricing strategies to discriminate amongst consumers based on the timing of information arrival and/or the timing of purchase.A seller repeatedly trades with a buyer. Buyer's valuations for the trade follow a renewal process; that is, they change infrequently at random dates. For the model with two periods, We show that selling the first period good for a spot price and selling the second period good by optioning a sequence of forwards is the optimal pricing strategy. Specifically, at the outset, the seller offers an American option which can be exercised in each of the two periods. Exercising the option grants the buyer with a forward- an obligation to purchase the second period good for a specific price, and a strike price- a right to buy (or not) the good in the second period after learning his value. The buyer with a high valuation exercises the option in the first period, whereas one with a low valuation waits until the second period and then takes a call.We extend the analysis to the general continuous time renewal processes and assess the performance of price discrimination based on American options on forwards:i.optioning forwards is shown to be the deterministic optimum for the sequential screening problem- when the seller makes a sale in a single fixed period;ii.optioning forwards is shown to be the exact optimum for the repeated sales problem in the restricted class of strongly monotone contracts- when allocative distortions are monotone in a whole vector of buyer's valuations;iii.the optimum for the repeated sales problem in the unrestricted class of contracts is shown to be backloaded and a theoretical bound is provided for the fraction of optimal revenue that can be extracted by optioning forwards.Finally, the construction of dynamic pricing mechanism and bounds is ported to study repeated auctions.

Handbook of Behavioral Industrial Organization

Author : Victor J. Tremblay
Publisher : Edward Elgar Publishing
ISBN 13 : 178471898X
Total Pages : 483 pages
Book Rating : 4.7/5 (847 download)

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Book Synopsis Handbook of Behavioral Industrial Organization by : Victor J. Tremblay

Download or read book Handbook of Behavioral Industrial Organization written by Victor J. Tremblay and published by Edward Elgar Publishing. This book was released on 2018 with total page 483 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Handbook of Behavioral Industrial Organization integrates behavioral economics into industrial organization. Chapters cover concepts such as relative thinking, salience, shrouded attributes, cognitive dissonance, motivated reasoning, confirmation bias, overconfidence, status quo bias, social cooperation and identity. Additional chapters consider industry issues, such as sports and gambling industries, neuroeconomic studies of brands and advertising, and behavioral antitrust law. The Handbook features a wide array of methods (literature surveys, experimental and econometric research, and theoretical modelling), facilitating accessibility to a wide audience.

Contract Theory for Wireless Networks

Author : Yanru Zhang
Publisher : Springer
ISBN 13 : 331953288X
Total Pages : 131 pages
Book Rating : 4.3/5 (195 download)

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Book Synopsis Contract Theory for Wireless Networks by : Yanru Zhang

Download or read book Contract Theory for Wireless Networks written by Yanru Zhang and published by Springer. This book was released on 2017-02-15 with total page 131 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents theoretical research between wireless communications, networking, and economics using the framework of contract theory. This work fills a void in the literature by closely combining contract theoretical approaches with wireless networks design problems. Topics covered include classification in contract theory, reward design, adverse selection, and moral hazard. The authors also explore incentive mechanisms for device-to-device communication in cellular networks, insurance plans for service assurance in cloud computing markets with incomplete information, multi-dimensional incentive mechanisms and tournament based incentive mechanisms in mobile crowdsourcing. Financial applications include financing contracts with adverse selection for spectrum trading in cognitive radio networks and complementary investment of infrastructure and service providers in wireless network visualization. This book offers a useful reference for engineers and researchers in the wireless communication community who seek to integrate the notions from contract theory and wireless engineering, while emphasizing on how contract theory can be applied in wireless networks. It is also suitable for advanced-level students studying information systems or communications engineering.

Performance-Based Contracts (PBC) for Improving Utilities Efficiency

Author : Philippe Marin
Publisher : IWA Publishing
ISBN 13 : 1780405952
Total Pages : 186 pages
Book Rating : 4.7/5 (84 download)

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Book Synopsis Performance-Based Contracts (PBC) for Improving Utilities Efficiency by : Philippe Marin

Download or read book Performance-Based Contracts (PBC) for Improving Utilities Efficiency written by Philippe Marin and published by IWA Publishing. This book was released on 2018-02-15 with total page 186 pages. Available in PDF, EPUB and Kindle. Book excerpt: Scientific and Technical Report No. 24 Performance-Based Contracts (PBC) for Improving Utilities Efficiency: Experiences and Perspectives is a compendium of articles written by members of the PBC taskforce. It focuses on new approaches without delegated management to private operator i.e. service contracts, consulting contracts, Alliance approach, public-public partnership. It also mentions new design and generation of more traditional PPPs, (MC, lease, concession), where a larger proportion of performance-based design is being applied. List of Contents: Performance Based Contracts – Setting the scene; PBC and Results Based Financing: the inverse approach; PBC and Energy Efficiency; Internal Performance Contracts: A Case of the National Water and Sewerage Corporation in Uganda; Performance-Based Service Contracts in Navi Mumbai; Financial Comparison of PBCs and Conventional Approach; Tegucigalpa PBC Case Study; Performance Based Contracts – Key Design Issues; NRW Reduction Optimization Framework; How to improve water services performance? Performance Based Contracts (PBC) and Regulatory issues; Peer-to-Peer Partnerships Operational for sustainable water services; Performance Based Contracts in Malawi: Teamwork Works; Performance based affermage contracts; Performance based Contracts, The Aroona Integrated Alliance Experience; Experience from Eastern Europe; NRW Performance Contract – Kingdom of Bahrain; The way forward and perspectives/trends

Advances in Through-life Engineering Services

Author : Louis Redding
Publisher : Springer
ISBN 13 : 3319499386
Total Pages : 463 pages
Book Rating : 4.3/5 (194 download)

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Book Synopsis Advances in Through-life Engineering Services by : Louis Redding

Download or read book Advances in Through-life Engineering Services written by Louis Redding and published by Springer. This book was released on 2017-04-22 with total page 463 pages. Available in PDF, EPUB and Kindle. Book excerpt: This edited book offers further advances, new perspectives, and developments from world leaders in the field of through-life engineering services (TES). It builds up on the earlier book by the same authors entitled: “Through-life Engineering Services: Motivation, Theory and Practice.” This compendium introduces and discusses further, the developments in workshop-based and 'in situ' maintenance and support of high-value engineering products, as well as the application of drone technology for autonomous and self-healing product support. The links between ‘integrated planning’ and planned obsolescence, risk and cost modelling are also examined. The role of data, information, and knowledge management relative to component and system degradation and failure is also presented. This is supported by consideration of the effects upon the maintenance and support decision by the presence of 'No Fault Found' error signals within system data. Further to this the role of diagnostics and prognostics is also discussed. In addition, this text presents the fundamental information required to deliver an effective TES solution/strategy and identification of core technologies. The book contains reference and discussion relative to automotive. rail, and several other industrial case studies to highlight the potential of TES to redefine the product creation and development process. Additionally the role of warranty and service data in the product creation and delivery system is also introduced. This book offers a valuable reference resource for academics, practitioners and students of TES and the associated supporting technologies and business models that underpin whole-life product creation and delivery systems through the harvesting and application of condition and use based data.

Optimal Contracts with Team Production and Hidden Information

Author : Antonio Cabrales
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)

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Book Synopsis Optimal Contracts with Team Production and Hidden Information by : Antonio Cabrales

Download or read book Optimal Contracts with Team Production and Hidden Information written by Antonio Cabrales and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: It is standard in agency theory to search for incentive-compatible mechanisms on the assumption that people care only about their own material wealth. Yet it may be useful to consider social forces in mechanism design and contract theory. We devise an experiment to explore optimal contracts in a hidden information context. A principal offers one of three possible contract menus to a team of two agents of unknown types. We observe numerous rejections of the more lopsided menus, and approach an equilibrium where one of the more equitable menus is proposed and agents accept a contract, selecting actions according to their types. The consensus menu differs across treatments that vary the payoffs resulting from a rejection. We find that an agent is more likely to reject a contract menu if her teammate rejected a contract menu in the previous period, suggesting that agents may be learning social norms; in addition, low-ability agents have a particularly adverse reaction to reduced wage offers.

Industrial Organization, Trade, and Social Interaction

Author : Gregory K. Dow
Publisher : University of Toronto Press
ISBN 13 : 0802097022
Total Pages : 313 pages
Book Rating : 4.8/5 (2 download)

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Book Synopsis Industrial Organization, Trade, and Social Interaction by : Gregory K. Dow

Download or read book Industrial Organization, Trade, and Social Interaction written by Gregory K. Dow and published by University of Toronto Press. This book was released on 2010-01-01 with total page 313 pages. Available in PDF, EPUB and Kindle. Book excerpt: B. Curtis Eaton is one of Canada's leading microeconomists. As an applied economic theorist, Eaton has contributed greatly to industrial organization literature and has also worked in labour economics, economic geography, and organizational theory. The essays in this volume, by former students and present and former colleagues, call attention to the path-breaking work of Professor Eaton. The first two chapters provide a short overview of Eaton's research contributions and argue that his work laid the foundation for important research programs across the country. The remaining chapters, including an unpublished paper by Eaton himself, consist of original work that can be divided into the three broad categories of industrial organization and spatial competition, trade and productivity, and social interaction. Not only a collection of laudatory essays, Industrial Organization, Trade, and Social Interaction presents cutting edge research by leading scholars.

Guide to Performance-Based Road Maintenance Contracts

Author : Asian Development Bank
Publisher : Asian Development Bank
ISBN 13 : 9292611097
Total Pages : 165 pages
Book Rating : 4.2/5 (926 download)

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Book Synopsis Guide to Performance-Based Road Maintenance Contracts by : Asian Development Bank

Download or read book Guide to Performance-Based Road Maintenance Contracts written by Asian Development Bank and published by Asian Development Bank. This book was released on 2018-04-01 with total page 165 pages. Available in PDF, EPUB and Kindle. Book excerpt: Road asset management is one of the top priorities of the Central Asia Regional Economic Cooperation (CAREC) Transport and Trade Facilitation Strategy 2020. The implementation of performance-based road maintenance contracts (PBCs)—an essential element of road asset management—promotes effective and efficient maintenance of road networks. Well-designed PBCs keep roads in predefined good condition at relatively low cost. This guide aims to help policy makers in CAREC member countries understand and implement PBCs. After a brief history of the development of PBCs, it discusses the various types of PBCs and their relative advantages and disadvantages. It highlights PBC implementation in selected developed, developing, and transitional countries, including CAREC member countries, to illustrate best practices.

The Economics of Contracts

Author : Bernard Salanié
Publisher : MIT Press
ISBN 13 : 0262195259
Total Pages : 257 pages
Book Rating : 4.2/5 (621 download)

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Book Synopsis The Economics of Contracts by : Bernard Salanié

Download or read book The Economics of Contracts written by Bernard Salanié and published by MIT Press. This book was released on 2005-03-11 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: A concise introduction to the theory of contracts, emphasizing basic tools that allow the reader to understand the main theoretical models; revised and updated throughout for this edition.

Performance-Based Contracting Second Edition

Author : Gerardus Blokdyk
Publisher : 5starcooks
ISBN 13 : 9780655311607
Total Pages : 214 pages
Book Rating : 4.3/5 (116 download)

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Book Synopsis Performance-Based Contracting Second Edition by : Gerardus Blokdyk

Download or read book Performance-Based Contracting Second Edition written by Gerardus Blokdyk and published by 5starcooks. This book was released on 2018-06-18 with total page 214 pages. Available in PDF, EPUB and Kindle. Book excerpt: Do we monitor the Performance-based contracting decisions made and fine tune them as they evolve? How will we insure seamless interoperability of Performance-based contracting moving forward? How does the organization define, manage, and improve its Performance-based contracting processes? What should the next improvement project be that is related to Performance-based contracting? Why should we adopt a Performance-based contracting framework? Defining, designing, creating, and implementing a process to solve a challenge or meet an objective is the most valuable role... In EVERY group, company, organization and department. Unless you are talking a one-time, single-use project, there should be a process. Whether that process is managed and implemented by humans, AI, or a combination of the two, it needs to be designed by someone with a complex enough perspective to ask the right questions. Someone capable of asking the right questions and step back and say, 'What are we really trying to accomplish here? And is there a different way to look at it?' This Self-Assessment empowers people to do just that - whether their title is entrepreneur, manager, consultant, (Vice-)President, CxO etc... - they are the people who rule the future. They are the person who asks the right questions to make Performance-based contracting investments work better. This Performance-based contracting All-Inclusive Self-Assessment enables You to be that person. All the tools you need to an in-depth Performance-based contracting Self-Assessment. Featuring 683 new and updated case-based questions, organized into seven core areas of process design, this Self-Assessment will help you identify areas in which Performance-based contracting improvements can be made. In using the questions you will be better able to: - diagnose Performance-based contracting projects, initiatives, organizations, businesses and processes using accepted diagnostic standards and practices - implement evidence-based best practice strategies aligned with overall goals - integrate recent advances in Performance-based contracting and process design strategies into practice according to best practice guidelines Using a Self-Assessment tool known as the Performance-based contracting Scorecard, you will develop a clear picture of which Performance-based contracting areas need attention. Your purchase includes access details to the Performance-based contracting self-assessment dashboard download which gives you your dynamically prioritized projects-ready tool and shows your organization exactly what to do next. Your exclusive instant access details can be found in your book.

A New Swing-Contract Design for Wholesale Power Markets

Author :
Publisher : John Wiley & Sons
ISBN 13 : 1119670144
Total Pages : 288 pages
Book Rating : 4.1/5 (196 download)

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Book Synopsis A New Swing-Contract Design for Wholesale Power Markets by :

Download or read book A New Swing-Contract Design for Wholesale Power Markets written by and published by John Wiley & Sons. This book was released on 2020-12-12 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: Provides comprehensive information on swing contracts for flexible reserve provision in wholesale power markets This book promotes a linked swing-contract market design for centrally-managed wholesale power markets to facilitate increased reliance on renewable energy resources and demand-side participation. The proposed swing contracts are firm or option two-part pricing contracts permitting resources to offer the future availability of dispatchable power paths (reserve) with broad types of flexibility in their power attributes. A New Swing-Contract Design for Wholesale Power Markets begins with a brief introduction to the subject, followed by two chapters that cover: general goals for wholesale power market design; history, operations, and conceptual concerns for current U.S. RTO/ISO-managed wholesale power markets; and the relationship of the present study to previous swing-contract research. The next eight chapters cover: a general swing-contract formulation for centrally-managed wholesale power markets; illustrative swing-contract reserve offers; inclusion of reserve offers with price swing; inclusion of price-sensitive reserve bids; and extension to a linked collection of swing-contract markets. Operations in current U.S. RTO/ISO-managed markets are reviewed in the following four chapters, and conceptual and practical advantages of the linked swing-contract market design are carefully considered. The book concludes with an examination of two key issues: How might current U.S. RTO/ISO-managed markets transition gradually to a swing-contract form? And how might independent distribution system operators, functioning as linkage entities at transmission and distribution system interfaces, make use of swing contracts to facilitate their participation in wholesale power markets as providers of ancillary services harnessed from distribution-side resources? In summary, this title: Addresses problems with current wholesale electric power markets by developing a new swing-contract market design from concept to practical implementation Provides introductory chapters that explain the general principles motivating the new market design, hence why a new approach is required Develops a new type of swing contract suitable for wholesale power markets with increasing reliance on renewable energy and active demand-side participation A New Swing-Contract Design for Wholesale Power Markets is an ideal book for electric power system professionals and for students specializing in electric power systems.