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Relational Contracts Multitasking And Job Design
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Book Synopsis Relational Contracts, Multitasking, and Job Design by : Anja Schöttner
Download or read book Relational Contracts, Multitasking, and Job Design written by Anja Schöttner and published by . This book was released on 2010 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This article analyzes optimal job design in a repeated principal-agent relationship when there is only one contractible and imperfect performance measure for three tasks whose contribution to firm value is nonverifiable. The tasks can be assigned to either one or two agents. Assigning an additional task to an agent strengthens his relational contract. Therefore, broad task assignments are optimal when the performance measure strongly distorts incentives for the two-task job. This is more likely to be the case if these two tasks are substitutes.
Book Synopsis On Multitasking and Job Design in Relational Contracts by : Akifumi Ishihara
Download or read book On Multitasking and Job Design in Relational Contracts written by Akifumi Ishihara and published by . This book was released on 2019 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: We investigate job design problems in relational contracting environments with multitasking and an aggregated and distorted performance measurement. Compared to assigning all the tasks to a single agent, assigning the tasks to multiple agents mitigates misallocation of effort among the tasks but tightens the self-enforcing constraint. Consequently, task separation is optimal if and only if the discount factor is high. Some tasks may not be assigned to the agents at all under the optimal job design. When the principal provides explicit incentives as well, it may be the case that task bundling is suboptimal for any discount factor.
Book Synopsis Relational Contracts with Multitask Jobs by : Bingyong Zheng
Download or read book Relational Contracts with Multitask Jobs written by Bingyong Zheng and published by . This book was released on 2018 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes a multitask Principal-Agent model in which the performance measures of some tasks are subjective and relational contract is needed for incentive provision. We find that rewarding the Agent based on a subjective measure that aggregates performance on multiple tasks can help ease the tension between motivating the Agent by offering a bonus and the Principal's temptation to renege on bonus payment, which helps reduce the threshold discount factor for relational contract to be self-enforcing. Consequently, when some dimensions of performance can not be objectively determined, it may be optimal not to use explicit contracts for incentive provision even if other dimensions of performance can be objectively measured and there is no cost of writing explicit contracts. We therefore offer a novel explanation to "excessively incomplete contracts" observed in practice.
Book Synopsis Relational Contracts and Job Design by : Anja Schöttner
Download or read book Relational Contracts and Job Design written by Anja Schöttner and published by . This book was released on 2005 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Contracting in the New Economy by : David Frydlinger
Download or read book Contracting in the New Economy written by David Frydlinger and published by Springer Nature. This book was released on 2021-05-24 with total page 327 pages. Available in PDF, EPUB and Kindle. Book excerpt: Today’s business environment is constantly evolving, filled with volatility, uncertainty, complexity and ambiguity and driven by digital transformation, globalization, and the need to creating value through innovation. These shifts demand that organizations view contracting through a different lens. Since it is impossible to predict every what-if scenario in a transactional contract, organizations in strategic and complex partnerships must shift to a mindset of shared goals and objectives built upon a strong foundation of transparency and trust, working together to mitigate risk much better than merely shifting risk to the weaker party. Contracting in the New Economy helps you to not only develop this mindset – but also offers the practical tools needed to embrace the social side of contracting, enabling your organization to harness the value creating potential of formal relational contracts. Briefly sharing the theoretical foundations that prove relational contracting works, it goes well beyond theory by providing powerful examples of relational contracting principles in practice. In addition, the authors provide a practical and proven approach for helping you to put relational contracting theory into practice for your own relationships. First by providing a framework for approaching any contracting situation and helping organizations finding the best contract model for each situation. And then by sharing five proven steps you can take to create an effective relational contract for you own strategic and complex business relationships. For anyone involved in developing contracts —lawyers, in-house counsels, contract managers, C-level managers, procurement officers, and so on — this book will empower you to create powerful cooperative alliances that will help you reach —and surpass — your business goals in today’s dynamic new environment.
Book Synopsis The Handbook of Organizational Economics by : Robert S. Gibbons
Download or read book The Handbook of Organizational Economics written by Robert S. Gibbons and published by Princeton University Press. This book was released on 2013 with total page 1248 pages. Available in PDF, EPUB and Kindle. Book excerpt: (E-book available via MyiLibrary) In even the most market-oriented economies, most economic transactions occur not in markets but inside managed organizations, particularly business firms. Organizational economics seeks to understand the nature and workings of such organizations and their impact on economic performance. The Handbook of Organizational Economics surveys the major theories, evidence, and methods used in the field. It displays the breadth of topics in organizational economics, including the roles of individuals and groups in organizations, organizational structures and processes, the boundaries of the firm, contracts between and within firms, and more.
Book Synopsis Strategy Beyond Markets by : John M. de Figueiredo
Download or read book Strategy Beyond Markets written by John M. de Figueiredo and published by Emerald Group Publishing. This book was released on 2016-04-27 with total page 539 pages. Available in PDF, EPUB and Kindle. Book excerpt: Strategy Beyond Markets is organized around three themes: Public Politics, Private Politics, and Integrated Political Strategy. The book explores the way these strategies influence political environments, firms and corporations.
Book Synopsis Relational Contracts by : Rocco Macchiavello
Download or read book Relational Contracts written by Rocco Macchiavello and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Relational contracts - informal self-enforcing agreements sustained by repeated interactions - are ubiquitous both within and across organizational boundaries. This review highlights recent empirical contributions in selected areas. We begin by reviewing some recent work that explicitly takes the dynamic incentive compatibility constraints that underpin relational contract models to the data. We then discuss the relationship between relational contracting and firms' performance. We conclude pointing in directions that we consider to be particularly ripe for future work.
Download or read book Beyond Dalma written by Sweta Biswal and published by Notion Press. This book was released on 2023-12-11 with total page 227 pages. Available in PDF, EPUB and Kindle. Book excerpt: The food on our plates has always been inextricably linked to the agricultural cycle. The numerous festivals and rituals that crop up on the Odia calendar (or Panji) with unfailing regularity, inevitably extend clues to eat what’s best in the season. This book takes one through the never-ending cycle of pray, eat and repeat while delving into the intricacies of the interrelationships between the agrarian calendar, the festivals observed in the various parts of the state of Odisha and the changing seasons. Beyond Dalma attempts to focus on the similarities rather than the diversities of the Odia cuisine which itself is an interesting amalgamation of various micro-cuisines that have evolved independently, shaped by diverse stimuli for the better part of history. At the same time, one cannot discount that dynamic exchanges among various micro-culinary traditions have always occurred due to a multitude of reasons ranging from trade to migrations to even marriages. The resulting culinary legacy is one that can be best described as a curious interplay between heterogeneity and homogeneity. The recipes are carefully selected keeping the focus on the seasonal aspects of the cuisine rather than emphasizing the regional aspects. However, a mild proclivity towards Western Odisha may be discernible at times as the author has spent a substantial part of her life in that region. The recipes are curated based on local and seasonal produce, and designed to help one adhere to a sustainable, low-carbon footprint lifestyle that is harmoniously aligned with mother nature’s basket rather than the supermarket shelves.
Book Synopsis Multi-task Principle-agent Analyses by : Bengt Holmström
Download or read book Multi-task Principle-agent Analyses written by Bengt Holmström and published by . This book was released on 1990 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Motivate and Select by : Radoslawa Nikolowa
Download or read book Motivate and Select written by Radoslawa Nikolowa and published by . This book was released on 2016 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: We develop a model of relational contracts with moral hazard and asymmetric persistent information about an employee's type. We find that the form of the optimal contract depends on the job characteristics and the distribution of employees' talent. Bonus contracts are more likely to be adopted in complex jobs and when high talent is not too common or too rare. Firms with 'normal' jobs are more likely to adopt termination contracts. In labor market equilibrium, different contracts may be adopted by ex ante identical firms. Hence, we offer an explanation for the co-existence of different employment systems within the same industry.
Book Synopsis Relational Incentive Contracts for Teams of Multitasking Agents by : Ola Kvaløy
Download or read book Relational Incentive Contracts for Teams of Multitasking Agents written by Ola Kvaløy and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Relational Contracts and Specific Training by : James M. Malcomson
Download or read book Relational Contracts and Specific Training written by James M. Malcomson and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Essays on Relational Contracts by : Marina Cynthia Halac
Download or read book Essays on Relational Contracts written by Marina Cynthia Halac and published by . This book was released on 2009 with total page 322 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Personnel Economics in Practice by : Edward P. Lazear
Download or read book Personnel Economics in Practice written by Edward P. Lazear and published by John Wiley & Sons. This book was released on 2014-11-03 with total page 416 pages. Available in PDF, EPUB and Kindle. Book excerpt: Personnel Economics in Practice, 3rd Edition by Edward Lazear and Michael Gibbs gives readers a rigorous framework for understanding organizational design and the management of employees. Economics has proven to be a powerful approach in the changing study of organizations and human resources by adding rigor and structure and clarifying many important issues. Not only will readers learn and apply ideas from microeconomics, they will also learn principles that will be valuable in their future careers.
Book Synopsis Relational Contracts And The Theory of the Firm by : Farid Sayed
Download or read book Relational Contracts And The Theory of the Firm written by Farid Sayed and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Transnational Business and Relational Contracting 2.0 by : Thomas Dietz
Download or read book Transnational Business and Relational Contracting 2.0 written by Thomas Dietz and published by . This book was released on 2015 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: First, this article proposes that the rise of the Internet and further information and communication technologies (ICT) has facilitated the evolution of a new, virtual form of relational contracts. This hypothesis is developed inductively by drawing on the results of an explorative empirical study about cross-border software development contracts. Although virtual social ties and networks do not promote the type of high-trust relations that are central to traditional relational contract theory, they reduce information asymmetries between transaction partners and facilitate the evolution of almost unrestricted virtual reputational networks. Relational contracts 2.0 emerge on the basis of ICT enabled transparency, controls and sanctioning tools. Second, the article discusses these results in the light of the wider theoretical debate about the institutional foundations of modern markets. Most importantly, it will be argued that modern ICT has significantly improved the economic performance of relational contracts. Relational contracts 2.0 are no longer restricted to small communities and long-term relationships, but are also able to allow exchange between unknown actors within competitive markets. Relational contracts 2.0 therefore do not oppose market expansions, but become mechanisms that actively promote such economic modernisation processes. The virtual society promotes the evolution of virtual relational contracts.
