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Three Essays On Contracts
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Book Synopsis Three Essays on Contracts by : Hanne Elsbet Meihuizen
Download or read book Three Essays on Contracts written by Hanne Elsbet Meihuizen and published by . This book was released on 1994 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Three Essays on Contracts and Competition by : Emanuele Gerratana
Download or read book Three Essays on Contracts and Competition written by Emanuele Gerratana and published by . This book was released on 2004 with total page 135 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Contracts, Three Essays on the Theory of by : Benjamin Edward Hermalin
Download or read book Contracts, Three Essays on the Theory of written by Benjamin Edward Hermalin and published by . This book was released on 1988 with total page 354 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Three Essays on Contract Theory and Applications by : Sunjoo Hwang
Download or read book Three Essays on Contract Theory and Applications written by Sunjoo Hwang and published by . This book was released on 2015 with total page 286 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation consists of three essays. The first essay examines a general theory of information based on informal contracting. The measurement problem--the disparity of true and measured performances--is at the core of many failures in incentive systems. Informal contracting can be a potential solution since, unlike in formal contracting, it can utilize a lot of qualitative and informative signals. However, informal contracting must be self-enforced. Given this trade-off between informativeness and self-enforcement, I show that a new source of statistical information is economically valuable in informal con- tracting if and only if it is sufficiently informative that it refines the existing pass/fail criterion. I also find that a new information is more likely valuable, as the stock of existing information is large. This information theory has implications on the measurement problem, a puzzle of relative performance evaluation and human resources management. I also provide a methodological contribution. For tractable analysis, the first-order approach (FOA) should be employed. Existing FOA-justifying conditions (e.g. the Mirrlees-Rogerson condition) are so strong that the information ranking condition can be applied only to a small set of information structures. Instead, I find a weak FOA- justifying condition, which holds in many prominent examples (with multi- variate normal or some of univariate exponential family distributions). The second essay analyzes the effectiveness of managerial punishments in mitigating moral hazard problem of government bailouts. Government bailouts of systemically important financial or industrial firms are necessary ex-post but cause moral hazard ex-ante. A seemingly perfect solution to this time-inconsistency problem is saving a firm while punishing its manager. I show that this idea does not necessarily work if ownership and management are separated. In this case, the shareholder(s) of the firm has to motivate the manager by using incentive contracts. Managerial punishments (such as Obama's $500,000 bonus cap) could distort the incentive-contracting program. The shareholder's ability to motivate the manager could then be reduced and thereby moral hazard could be exacerbated depending on corporate governance structures and punishment measures, which means the likelihood of future bailouts increases. As an alternative, I discuss the effectiveness of shareholder punishments. The third essay analyzes how education affect workers' career-concerns. A person's life consists of two important stages: the first stage as a student and the second stage as a worker. In order to address how a person chooses an education-career path, I examine an integrated model of education and career-concerns. In the first part, I analyze the welfare effect of education. In Spence's job market signaling model, education as a sorting device improves efficiency by mitigating the lemon market problem. In my integrated model, by contrast, education as a sorting device can be detrimental to social welfare, as it eliminates the work incentive generated by career-concerns. In this regard, I suggest scholarship programs aimed at building human capital rather than sorting students. The second part provides a new perspective on education: education is job-risk hedging device (as well as human capital enhancing or sorting device). I show that highly risk-averse people take high education in order to hedge job-risk and pursue safe but medium-return work path. In contrast, lowly risk-averse people take low education, bear job-risk, and pursue high-risk high-return work path. This explains why some people finish college early and begin start-ups, whereas others take master's or Ph.D. degrees and find safe but stable jobs.
Book Synopsis Three Essays on the Theory of Contracts by : Chunto Tso
Download or read book Three Essays on the Theory of Contracts written by Chunto Tso and published by . This book was released on 1996 with total page 94 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Three Essays on Financial Contracts by : Diego García
Download or read book Three Essays on Financial Contracts written by Diego García and published by . This book was released on 2000 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Three Essays in the Theory of Contracts and Organizations by : Fausto Panunzi
Download or read book Three Essays in the Theory of Contracts and Organizations written by Fausto Panunzi and published by . This book was released on 1995 with total page 234 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Three Essays on Contracts and Social Harm by : Rohan Pitchford
Download or read book Three Essays on Contracts and Social Harm written by Rohan Pitchford and published by . This book was released on 1993 with total page 234 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Three essays on financial contracts by : Li-Ming Han
Download or read book Three essays on financial contracts written by Li-Ming Han and published by . This book was released on 1987 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Three essays on venture capital contracting by : Ibolya Schindele
Download or read book Three essays on venture capital contracting written by Ibolya Schindele and published by Rozenberg Publishers. This book was released on 2005 with total page 181 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Three Essays in Incomplete Contracts by : João Vieira-Montez
Download or read book Three Essays in Incomplete Contracts written by João Vieira-Montez and published by . This book was released on 2007 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Three Essays in Contract Theory by : Bernard Caillaud
Download or read book Three Essays in Contract Theory written by Bernard Caillaud and published by . This book was released on 1988 with total page 432 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Three Essays in Contract Theory by : Kyoungwon Rhee
Download or read book Three Essays in Contract Theory written by Kyoungwon Rhee and published by . This book was released on 2000 with total page 144 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Three Essays on Dynamic Contracts with Applications to the Labor Market by : Nicola Pavoni
Download or read book Three Essays on Dynamic Contracts with Applications to the Labor Market written by Nicola Pavoni and published by . This book was released on 2000 with total page 147 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Three Essays on the Economic Incentives of Law and Contracts by : Juan Carlos Bisso
Download or read book Three Essays on the Economic Incentives of Law and Contracts written by Juan Carlos Bisso and published by . This book was released on 2008 with total page 222 pages. Available in PDF, EPUB and Kindle. Book excerpt: How does the law affect the amount of information that is disclosed by a contractual relationship? This dissertation examines this question to predict the equilibrium outcomes that are influenced by different legal regimes.
Book Synopsis Three Essays on Contract Theory by :
Download or read book Three Essays on Contract Theory written by and published by . This book was released on 2002 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Three Essays on Bargaining and Contract Theory by : Martina Nikolaeva Gogova
Download or read book Three Essays on Bargaining and Contract Theory written by Martina Nikolaeva Gogova and published by . This book was released on 2014 with total page 171 pages. Available in PDF, EPUB and Kindle. Book excerpt: