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Author : Drew Fudenberg
Publisher :
ISBN 13 :
Total Pages : 48 pages
Book Rating : 4.:/5 (28 download)
Download or read book Short-term Contracts and Long Term Agency Relationships written by Drew Fudenberg and published by . This book was released on 1989 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Drew Fudenberg
Publisher :
ISBN 13 :
Total Pages : 48 pages
Book Rating : 4.:/5 (28 download)
Download or read book Short-term Contracts and Long Term Agency Relationships written by Drew Fudenberg and published by . This book was released on 1989 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Vincent P. Crawford
Publisher :
ISBN 13 :
Total Pages : 46 pages
Book Rating : 4.E/5 ( download)
Download or read book Long-term Relationships Governed by Short-term Contracts written by Vincent P. Crawford and published by . This book was released on 1986 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Jens Robert Schöndube
Publisher :
ISBN 13 :
Total Pages : 23 pages
Book Rating : 4.:/5 (129 download)
Download or read book Early versus Late Effort in Dynamic Agencies with Unverifiable Information written by Jens Robert Schöndube and published by . This book was released on 2009 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper we analyze a dynamic agency problem where contracting parties do not know the agent's future productivity at the beginning of the relationship. We consider a two-period model where both the agent and the principal observe the agent's second-period productivity at the end of the first period. This observation is assumed to be non-verifiable information. We compare long-term contracts with short-term contracts with respect to their suitability to motivate effort in both periods. On the one hand, short-term contracts allow for a better fine-tuning of second-period incentives as they can be aligned with the agent's second-period productivity. On the other hand, in short-term contracts first-period effort incentives might be distorted as contracts have to be sequentially optimal. Hence, the difference between long-term and short-term contracts is characterized by a trade-off between inducing effort in the first and in the second period. We analyze the determinants of this trade-off and demonstrate its implications for performance measurement and information system design.
Author : James E. Alt
Publisher : Cambridge University Press
ISBN 13 : 9780521398510
Total Pages : 284 pages
Book Rating : 4.3/5 (985 download)
Download or read book Perspectives on Positive Political Economy written by James E. Alt and published by Cambridge University Press. This book was released on 1990-09-28 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume serves as an introduction to the field of positive political economy and the economic and political processes with which it is concerned. This new research tradition is distinct from both normative and historical approaches to political economy. Grounded in the rational-actor methodology of microeconomics, positive political economy is the study of rational decisions in a context of political and economic institutions. More analytical than traditional approaches, it is concerned with the derivation of principles and propositions against which real-world experience may be compared. Its focus is on empirical regularities, and its goal is theoretical explanation. The field has focused on three main areas of research: models of collective action, constraints on competitive market processes, and the analysis of transaction costs. Developments in all of these areas are covered in the book. The first part of the volume surveys the field, while the second part displays positive political economy at work, examining a variety of subjects. The final part contains essays by leading political economists on the theoretical foundations of the field.
Author : Jean-Jacques Laffont
Publisher : MIT Press
ISBN 13 : 9780262121743
Total Pages : 746 pages
Book Rating : 4.1/5 (217 download)
Download or read book A Theory of Incentives in Procurement and Regulation written by Jean-Jacques Laffont and published by MIT Press. This book was released on 1993 with total page 746 pages. Available in PDF, EPUB and Kindle. Book excerpt: Based on their work in the application of principal-agent theory to questions of regulation, Laffont and Tirole develop a synthetic approach to this field, focusing on the regulation of natural monopolies such as military contractors, utility companies and transportation authorities.
Author : Peter J. Buckley
Publisher :
ISBN 13 : 9780198774365
Total Pages : 498 pages
Book Rating : 4.7/5 (743 download)
Download or read book Firms, Organizations and Contracts written by Peter J. Buckley and published by . This book was released on 1996 with total page 498 pages. Available in PDF, EPUB and Kindle. Book excerpt: The operations of the firm lie at the heart of studying business and business economics. This volume--the first in the new Oxford Management Readers Series--brings together the classic articles analyzing the role of firms and the relations between them, focusing particularly on the increasingly widespread idea that a firm is based on a set of internal and external contracts. The book will be an invaluable tool for teachers and students of business, economics, and management. The editors' Introduction provides an accessible overview, and Nobel prizewinner Ronald Coase contributes a foreword.
Author : Gillian Kereldena Hadfield
Publisher : Ann Arbor, Mich. : University Microfilms International
ISBN 13 :
Total Pages : 240 pages
Book Rating : 4.F/5 ( download)
Download or read book Commitment and the Design of Long-term Relationships written by Gillian Kereldena Hadfield and published by Ann Arbor, Mich. : University Microfilms International. This book was released on 1990 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Oliver E. Williamson
Publisher : Oxford University Press, USA
ISBN 13 : 9780195083569
Total Pages : 260 pages
Book Rating : 4.0/5 (835 download)
Download or read book The Nature of the Firm written by Oliver E. Williamson and published by Oxford University Press, USA. This book was released on 1993 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume features a series of essays which arose from a conference on economics, addressing the question: what is the nature of the firm in economic analysis? This paperback edition includes the Nobel Lecture of R.N. Case.
Author : Bernard Salanie
Publisher : MIT Press
ISBN 13 : 0262257874
Total Pages : 257 pages
Book Rating : 4.2/5 (622 download)
Download or read book The Economics of Contracts, second edition written by Bernard Salanie 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. The theory of contracts grew out of the failure of the general equilibrium model to account for the strategic interactions among agents that arise from informational asymmetries. This popular text, revised and updated throughout for the second edition, serves as a concise and rigorous introduction to the theory of contracts for graduate students and professional economists. The book presents the main models of the theory of contracts, particularly the basic models of adverse selection, signaling, and moral hazard. It emphasizes the methods used to analyze the models, but also includes brief introductions to many of the applications in different fields of economics. The goal is to give readers the tools to understand the basic models and create their own. For the second edition, major changes have been made to chapter 3, on examples and extensions for the adverse selection model, which now includes more thorough discussions of multiprincipals, collusion, and multidimensional adverse selection, and to chapter 5, on moral hazard, with the limited liability model, career concerns, and common agency added to its topics. Two chapters have been completely rewritten: chapter 7, on the theory of incomplete contracts, and chapter 8, on the empirical literature in the theory of contracts. An appendix presents concepts of noncooperative game theory to supplement chapters 4 and 6. Exercises follow chapters 2 through 5. Praise for the previous edition: “The Economics of Contracts offers an excellent introduction to agency models. Written by one of the leading young researchers in contact theory, it is rigorous, clear, concise, and up-to-date. Researchers and students who want to learn about the economics of incentives will want to read this primer.”—Jean Tirole, Institut D'Économie Industrielle, Universite des Sciences Sociales, France “Students will find this a very useful introduction to the ideas of contract theory. Salanié has managed to summarize a large amount of material in a relatively short number of pages in a highly accessible and readable manner.”—Oliver Hart, Professor of Economics, Harvard University
Author : Vincent Paul Crawford
Publisher :
ISBN 13 :
Total Pages : 74 pages
Book Rating : 4.:/5 (753 download)
Download or read book Long-term Relationships Governed by Short-time Contracts written by Vincent Paul Crawford and published by . This book was released on 1986 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Bernard Salanié
Publisher : MIT Press
ISBN 13 : 0262195259
Total Pages : 257 pages
Book Rating : 4.2/5 (621 download)
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.
Author : Mark J. McCabe
Publisher :
ISBN 13 :
Total Pages : 32 pages
Book Rating : 4.3/5 ( download)
Download or read book Principals, Agents, and the Learning Curve written by Mark J. McCabe and published by . This book was released on 1994 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Maija Halonen-Akatwijuka
Publisher :
ISBN 13 :
Total Pages : 31 pages
Book Rating : 4.:/5 (94 download)
Download or read book Short-term, Long-term, and Continuing Contracts written by Maija Halonen-Akatwijuka and published by . This book was released on 2015 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: Parties often regulate their relationships through "continuing" contracts that are neither long-term nor short-term but usually roll over. We study the trade-off between long-term, short-term, and continuing contracts in a two period model where gains from trade exist in the first period, and may or may not exist in the second period. A long-term contract that mandates trade in both periods is disadvantageous since renegotiation is required if there are no gains from trade in the second period. A short-term contract is disadvantageous since a new contract must be negotiated if gains from trade exist in the second period. A continuing contract can be better. In a continuing contract there is no obligation to trade in the second period but if there are gains from trade the parties will bargain "in good faith" using the first period contract as a reference point. This can reduce the cost of negotiating the next contract. Continuing contracts are not a panacea, however, since good faith bargaining may preclude the use of outside options in the bargaining process and as a result parties will sometimes fail to trade when this is efficient.
Author : Glenn R. Carroll
Publisher : Oxford University Press
ISBN 13 : 0195353196
Total Pages : 561 pages
Book Rating : 4.1/5 (953 download)
Download or read book Firms, Markets and Hierarchies written by Glenn R. Carroll and published by Oxford University Press. This book was released on 1999-01-28 with total page 561 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines transaction cost economics, the influential theoretical perspective on organizations and industry that was the subject of Oliver Williamson's seminal book,Markets and Hierarchies (1975). Written by leading economists, sociologists, and political scientists, the essays collected here reflect the fruitful intellectual exchange that is occurring across the major social science disciplines. They examine transaction cost economics' general conceptual orientation, its specific theoretical propositions, its applications to policy, and its use in systematic empirical research. The chapters include classic texts, broad review essays, reflective commentaries, and several new contributions to a wide range of topics, including organizations, regulations and law, institutions, strategic management, game theory, entrepreneurship, innovation, finance, and technical information. The book begins with an overview of theory and research on transaction cost economics, highlighting the specific accomplishments of scholars working within the perspective and emphasizing the enormous influence that transaction cost reasoning exerts on the social sciences. The following section covers conceptual uses for the transaction cost framework and major theoretical or methodological elements within it, such as bounded rationality. While advancing some interesting theoretical propositions, these chapters are in fact more ambitious: each examines a specific field, area, or research program and attempts to fashion a new way of thinking about research questions. In the section on industrial applications, contributors study the application of transaction cost theory to a range of problems in utilities, telecommunications, laser printing, and early international trade. The book closes with four microanalytical chapters that delve into the structures and behaviors of specific aspects of firms and organizations: boards of directors, equity structures, employment models, human resource policies and practices, technology strategies, and innovation events. Firms, Markets, and Hierarchies collects excellent social science work on transaction cost economics, taking stock of its status, charting its future development, and fostering its renewal and evolution.
Author : Cecilia Rossignoli
Publisher : Springer
ISBN 13 : 331911221X
Total Pages : 165 pages
Book Rating : 4.3/5 (191 download)
Download or read book Inter-Organizational Relationships written by Cecilia Rossignoli and published by Springer. This book was released on 2014-10-30 with total page 165 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores the premise that organizations are significantly influenced by their inter-organizational relationships; moreover, these relationships may generate important externalities, both positive and negative, impacting the environment at several levels. The advent of the Internet era, on the other hand, has resulted in disruptive changes in traditional inter-organizational networks, and some completely new inter-organizational settings are now arising. In its first part the book reviews the most commonly cited theories explaining inter-organizational phenomena: transaction costs economics, agency theory, resource dependence theory, game theories, collaborative networks theory, institutional theories, organizational ecology, resource-based / relational-based view of the firm, and knowledge network / social network theories. In Part II it thoroughly reviews the literature on a number of key IT-enabled inter-organizational systems currently on the rise, such as virtual organizations, e-intermediators and e-marketplaces. Lastly, Part III presents the case of the Yoox Group, a leading firm offering e-commerce services for fashion and design products. A framework is proposed for systematically linking the different possible types of inter-organizational relationships to specific, suitable sets of theories. The range of possible inter-organizational relationships is described on the basis of three pairs of opposites: conformism-breach, exploitation-exploration, and cooperation-competition. This results in a model that makes it possible to combine different theories in order to study the effects of inter-organizational ambidexterity and dynamism on performance.
Author : Stewart Jones
Publisher : Routledge
ISBN 13 : 1135107262
Total Pages : 559 pages
Book Rating : 4.1/5 (351 download)
Download or read book The Routledge Companion to Financial Accounting Theory written by Stewart Jones and published by Routledge. This book was released on 2015-05-22 with total page 559 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial accounting theory has numerous practical applications and policy implications, for instance, international accounting standard setters are increasingly relying on theoretical accounting concepts in the creation of new standards; and corporate regulators are increasingly turning to various conceptual frameworks of accounting to guide regulation and the interpretation of accounting practices. The global financial crisis has also led to a new found appreciation of the social, economic and political importance of accounting concepts generally and corporate financial reporting in particular. For instance, the fundamentals of capital market theory (i.e. market efficiency) and measurement theory (i.e. fair value) have received widespread public and regulatory attention. This comprehensive, authoritative volume provides a prestige reference work which offers students, academics, regulators and practitioners a valuable resource containing the current scholarship and practice in the established field of financial accounting theory.
