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Teams In Relational Contracts
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Book Synopsis Teams in Relational Contracts by : Ola Kvaloy
Download or read book Teams in Relational Contracts written by Ola Kvaloy and published by . This book was released on 2016 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: We analyze relational contracting between a principal and a team of agents where only aggregate output is observable. We deduce optimal team incentive contracts under different set of assumptions, and show that the principal can use team size and team composition as instruments in order to improve incentives. In particular, the principal can strengthen the agents' incentives by composing teams that utilize stochastic dependencies between the agents' outputs. We also show that more agents in the team may under certain conditions increase each team member's effort incentives, in particular if outputs are negatively correlated.
Book Synopsis Teams and Tournaments in Relational Contracts by : Ola Kvaløy
Download or read book Teams and Tournaments in Relational Contracts written by Ola Kvaløy and published by . This book was released on 2014 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Teams and Tournaments in Relational Contracts by : Ola Kvaløy
Download or read book Teams and Tournaments in Relational Contracts written by Ola Kvaløy and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We analyze relational contracts for a set of agents when either (a) only aggregate output or (b) individual outputs are observable. A team incentive scheme, where each agent is paid a bonus for aggregate output above a threshold, is optimal in case (a). The team's efficiency may increase considerably with size if outputs are negatively correlated. Under (b) a tournament scheme with a threshold is optimal, where the threshold, for correlated outputs, depends on an agent's relative performance. The two cases reveal that it may be optimal to organize production as a team where only aggregate output is observable.
Book Synopsis Relational Contracting for Construction Excellence by : Albert P Chan
Download or read book Relational Contracting for Construction Excellence written by Albert P Chan and published by Routledge. This book was released on 2009-09-23 with total page 353 pages. Available in PDF, EPUB and Kindle. Book excerpt: Improved efficiency and effectiveness in the construction industry provide huge potential savings. Various forms of relational contracting such as partnering, alliancing, public private partnership (PPP), and joint venture are good examples of this. Relational Contracting for Construction Excellence presents the principles of relational contracting, practicalities and a series of short case studies. Principles begins with the fundamentals then covers development in major countries, definitions of relational contracting, their benefits, difficulties, critical success factors and key performance indicators. Practice includes the relational contracting approach and process in general, and significant factors which make workshops successful, at whatever stage of the process. A number of real-life case studies from the UK, USA, Australia, and Hong Kong are provided. Since the book draws on a combination of practical consultancy works and university research, a wide range of readers will find it useful, i.e. from industrial practitioners to undergraduate students.
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 Relational Contracts with and Between Agents by : Tim Baldenius
Download or read book Relational Contracts with and Between Agents written by Tim Baldenius and published by . This book was released on 2017 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: We study a dynamic multi-agent model with a verifiable team performance measure and non-verifiable individual measures. The optimal contract can be interpreted as an explicit contract that specifies a minimum bonus pool as a function of the verifiable measure and an implicit contract that gives the principal discretion to increase the size of the pool and to allocate it among the agents. To mitigate the threat of collusion, the optimal contract often converts any exogenous productive interdependence into strategic payoff independence for the agents. Under productive complements, an unconditional bonus pool (pay without performance) can be less costly than one conditioned on the verifiable team measure.
Book Synopsis Relational Supply Contracts by : Michaela Isabel Höhn
Download or read book Relational Supply Contracts written by Michaela Isabel Höhn and published by Springer Science & Business Media. This book was released on 2009-10-03 with total page 134 pages. Available in PDF, EPUB and Kindle. Book excerpt: Supply relations are often governed by so-called relational contracts. These are informal agreements sustained by the value of future cooperation. Although relational contracts persist in practice, research on these types of contract is only emerging in Operations and Supply Chain Management. This book studies a two-firm supply chain, where repeated transactions via well-established supply contracts and continued quality-improvement efforts are governed by a relational contract. We are able to characterize an optimal relational contract, i.e., to develop policies for supplier and buyer that structure investments in quality and flexibility in a way that no other self-enforcing contract generates higher expected joint surplus. A second goal is to compare the performance of different returns mechanisms in the context of relational contracting (quantity flexibility and buy-back contracts). Industry studies motivate the presented model.
Book Synopsis Team Incentives in Relational Employment Contracts by : Ola Kvaloy
Download or read book Team Incentives in Relational Employment Contracts written by Ola Kvaloy and published by . This book was released on 2005 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper analyzes conditions for implementing incentive schemes based on, respectively joint, relative and indendent performance, in a relational contract between a principal and a team of two agents. A main result is that the optimal incentive regime depends on the productivity of the agents, or more preciseley on the returns from high effort. This occurs because agents' productivites affect the principal's temptation to renege on the relational contract. The analysis suggests that we will see a higher frequency of relative performance evaluation (RPE) - and schemes that lie close to independent performance evaluation - as we move from low-productive to high-productive environments. In particular, it is shown that if effort-productivity is sufficently high, the optimal scheme for the principal is (for a range of discount factors) a collusion-proof RPE scheme, even if there is no common shock that affects the agents' output.
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 The Wiley Blackwell Handbook of the Psychology of Team Working and Collaborative Processes by : Eduardo Salas
Download or read book The Wiley Blackwell Handbook of the Psychology of Team Working and Collaborative Processes written by Eduardo Salas and published by John Wiley & Sons. This book was released on 2020-04-06 with total page 637 pages. Available in PDF, EPUB and Kindle. Book excerpt: A state-of-the-art psychological perspective on team working and collaborative organizational processes This handbook makes a unique contribution to organizational psychology and HRM by providing comprehensive international coverage of the contemporary field of team working and collaborative organizational processes. It provides critical reviews of key topics related to teams including design, diversity, leadership, trust processes and performance measurement, drawing on the work of leading thinkers including Linda Argote, Neal Ashkanasy, Robert Kraut, Floor Rink and Daan van Knippenberg.
Book Synopsis Routledge Handbook of Construction Project Procurement and Delivery by : Mohan Kumaraswamy
Download or read book Routledge Handbook of Construction Project Procurement and Delivery written by Mohan Kumaraswamy and published by Taylor & Francis. This book was released on 2024-03-28 with total page 432 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Handbook provides the knowledge needed to design and deploy proactive construction project procurement and delivery systems based on essentials while addressing emerging construction industry imperatives in order to boost overall performance. Section 1 of the Handbook provides an overview, while Section 2 provides the fundamentals with fresh insights into the building blocks and trends in performance-linked procurement and delivery, including procurement strategies and commercial priorities, project briefs and management plans, design management, stakeholder management, risk management, ethics and professionalism, team building, information and knowledge management, digital aids, conflict, claims and dispute management, collaborative contracting, relationship-based teamworking and linking to built asset management. Section 3 explores and expands on specific trends, including sub-contractor selection, Building Information Modelling (BIM) in project cost management; off-site and modern methods of construction; 4IR/5IR technologies; and constructing for the circular economy, supply chain resilience and social value imperatives in this domain. While other books describe standard processes or focus on specific strategies such as design and build, target cost contracting or integrated project delivery, this Handbook presents the fundamentals of such processes and protocols together with invited specialist insights into growing trends and imperatives in holistic procurement and delivery. Those who could benefit from this Handbook include academics, researchers, postgraduate students, policy makers and administrators, managers in both public and private sectors involved with planning and overseeing construction project procurement and/or delivery and undergraduates looking for a balanced introduction and useful insights into what is critical to the success of construction projects, organisations and the industry itself.
Book Synopsis Relational Supply Contracts by : Michaela Isabel H Hn
Download or read book Relational Supply Contracts written by Michaela Isabel H Hn and published by . This book was released on 2009-10-04 with total page 140 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Modern Construction by : Lincoln H. Forbes
Download or read book Modern Construction written by Lincoln H. Forbes and published by CRC Press. This book was released on 2010-10-13 with total page 526 pages. Available in PDF, EPUB and Kindle. Book excerpt: During the past several decades, the manufacturing and service industries significantly increased their levels of productivity, quality, and profitability through the application of process improvement techniques and information technology. Unfortunately, the construction industry lags far behind in the application of performance improvement and optimization techniques, as well as its overall competitiveness. Written by Lincoln H. Forbes and Syed M. Ahmed, both highly regarded for leadership and innovation, Modern Construction: Lean Project Delivery and Integrated Practices offers cutting-edge lean tools and other productive strategies for the management of people and processes in the construction industry. Drs. Forbes and Ahmed focus mainly on lean construction methodologies, such as The Last Planner(R) System, The Lean Project Delivery System (TM), and Integrated Project Delivery(TM). The tools and strategies offered draw on the success of the world-renowned Toyota Production System (TPS) adapted to the construction environment by construction professionals and researchers involved in developing and advocating lean construction methods. The book also discusses why true lean construction can best occur when all the construction stakeholders, owners, designers, constructors, and material suppliers are committed to the concept of optimizing the flow of activities holistically while de-emphasizing their self-interest. The authors also reintroduce process improvement approaches such as TQM and Six Sigma as a foundation for the adoption of lean methodologies, and demonstrate how these methods can improve projects in a so-called traditional environment. The book integrates these methods with emerging interest in "green construction" and the use of information technology and Building Information Modeling (BIM), while recognizing the human element in relation to motivation, safety, and environmental stresses. Written specifically for professionals in an industry that desperately needs to play catch up, the book delineates cutting-edge approaches with the benefit of successful cases and explains how their deployment can improve construction performance and competitiveness.
Book Synopsis Better Sundays Begin on Monday by : David W. Manner
Download or read book Better Sundays Begin on Monday written by David W. Manner and published by Abingdon Press. This book was released on 2020-09-15 with total page 237 pages. Available in PDF, EPUB and Kindle. Book excerpt: Reviewing game film is a discipline that sports teams often incorporate after each game. Teams watch game videos to identify mistakes, make adjustments, consider radical changes, and highlight successes. The goal of this analysis is to facilitate individual and team improvements that will positively affect subsequent games. The fundamental reason why a team needs adjustments is not always evident in the middle of the game. But evaluating important elements after a game gives coaches and players the opportunity to review individual plays and players in a more relaxed setting away from the time constraints and pressures of the game. So why aren’t pastors and worship teams incorporating similar evaluative practices? Implementing a collaborative process of analyzing worship services or planning for upcoming services requires a deep level of humility, trust, and shared accountability. It also requires selfless leaders who are willing to sacrifice their own ideas and interests for the greater worshiping good of the congregation. Better Sundays Begin on Mondays offers foundational worship considerations to help leadership teams ask questions evaluatively rather than defensively. These weekly reflections encourage worship leaders and their teams to think beyond style to biblical and theological worship content.
Book Synopsis Trust in Co-operative Contracting in Construction by : Sai On CHEUNG
Download or read book Trust in Co-operative Contracting in Construction written by Sai On CHEUNG and published by City University of HK Press. This book was released on 2007-06-01 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume identifies the most critical driver for co-operative behavior—“Trust”. Its legal and behavioral implications will be carefully examined. Furthermore, a case study on the Mass Transit Railway Tseung Kwan O extension will help illustrate both theory and practice in perspective.This book provides a comprehensive discussion on trust in co-operative contracting. Directed from both management and legal perspectives with findings supported by empirical researches, it is hoped that professionals, researchers and students will find the book interesting. Published by City University of Hong Kong Press. 香港城市大學出版社出版。
Book Synopsis Governance Ethics: Global value creation, economic organization and normativity by : Josef Wieland
Download or read book Governance Ethics: Global value creation, economic organization and normativity written by Josef Wieland and published by Springer. This book was released on 2014-08-07 with total page 247 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book investigates the functioning and effects of moral rules and values as endogenous elements of governance structures when applied to economic and social transactions. The point of departure and framework of this book is Josef Wieland's theory of Ethics of Governance. Its focal point is the governance of the normative aspects of corporations. The Ethics of Governance is a comparative research project on business and economic ethics which started 15 years ago. Divided into five chapters, the book provides a comprehensive insight into the theoretical foundation and application-oriented results of the research project. It covers theoretical, conceptual and practical challenges in the global economy with regard to a sustainable economy, the social responsibility of corporations, and their transcultural and normative management. By offering comprehensive insight into the research results of the Ethics of Governance project, this book provides a unique scientific work on business and economic ethics.
Book Synopsis Implementing Lean Software Development by : Mary Poppendieck
Download or read book Implementing Lean Software Development written by Mary Poppendieck and published by Pearson Education. This book was released on 2007 with total page 306 pages. Available in PDF, EPUB and Kindle. Book excerpt:
