Contract Theory

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Contract Theory

Author : Patrick Bolton
Publisher : MIT Press
ISBN 13 : 9780262025768
Total Pages : 746 pages
Book Rating : 4.0/5 (257 download)

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Book Synopsis Contract Theory by : Patrick Bolton

Download or read book Contract Theory written by Patrick Bolton and published by MIT Press. This book was released on 2004-12-10 with total page 746 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive introduction to contract theory, emphasizing common themes and methodologies as well as applications in key areas. Despite the vast research literature on topics relating to contract theory, only a few of the field's core ideas are covered in microeconomics textbooks. This long-awaited book fills the need for a comprehensive textbook on contract theory suitable for use at the graduate and advanced undergraduate levels. It covers the areas of agency theory, information economics, and organization theory, highlighting common themes and methodologies and presenting the main ideas in an accessible way. It also presents many applications in all areas of economics, especially labor economics, industrial organization, and corporate finance. The book emphasizes applications rather than general theorems while providing self-contained, intuitive treatment of the simple models analyzed. In this way, it can also serve as a reference for researchers interested in building contract-theoretic models in applied contexts.The book covers all the major topics in contract theory taught in most graduate courses. It begins by discussing such basic ideas in incentive and information theory as screening, signaling, and moral hazard. Subsequent sections treat multilateral contracting with private information or hidden actions, covering auction theory, bilateral trade under private information, and the theory of the internal organization of firms; long-term contracts with private information or hidden actions; and incomplete contracts, the theory of ownership and control, and contracting with externalities. Each chapter ends with a guide to the relevant literature. Exercises appear in a separate chapter at the end of the book.

Contract Theory in Continuous-Time Models

Author : Jakša Cvitanic
Publisher : Springer Science & Business Media
ISBN 13 : 3642141994
Total Pages : 258 pages
Book Rating : 4.6/5 (421 download)

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Book Synopsis Contract Theory in Continuous-Time Models by : Jakša Cvitanic

Download or read book Contract Theory in Continuous-Time Models written by Jakša Cvitanic and published by Springer Science & Business Media. This book was released on 2012-09-26 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent years there has been a significant increase of interest in continuous-time Principal-Agent models, or contract theory, and their applications. Continuous-time models provide a powerful and elegant framework for solving stochastic optimization problems of finding the optimal contracts between two parties, under various assumptions on the information they have access to, and the effect they have on the underlying "profit/loss" values. This monograph surveys recent results of the theory in a systematic way, using the approach of the so-called Stochastic Maximum Principle, in models driven by Brownian Motion. Optimal contracts are characterized via a system of Forward-Backward Stochastic Differential Equations. In a number of interesting special cases these can be solved explicitly, enabling derivation of many qualitative economic conclusions.

Contract Theory

Author : Stephen A. Smith
Publisher : OUP Oxford
ISBN 13 : 0191018813
Total Pages : 480 pages
Book Rating : 4.1/5 (91 download)

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Book Synopsis Contract Theory by : Stephen A. Smith

Download or read book Contract Theory written by Stephen A. Smith and published by OUP Oxford. This book was released on 2004-03-25 with total page 480 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is both an examination of, and a contribution to, our understanding of the theoretical foundations of the common law of contract. Focusing on contemporary debates in contract theory, Contract Theory aims to help readers better understand the nature and justification of the general idea of contractual obligation, as well as the nature and justification of the particular rules that make up the law of contract. The book is in three parts. Part I introduces the idea of 'contract theory', and presents a framework for identifying, classifying, and evaluating contract theories. Part II describes and evaluates the most important general theories of contract; examples include promissory theories, reliance-based theories, and economic theories. In Part III, the theoretical issues raised by the various specific doctrines that make up the law of contract (e.g., offer and acceptance, consideration, mistake, remedies, etc.) are examined in separate chapters. The legal focus of the book is the common law of the United Kingdom, but the theoretical literature discussed is international in origin; the arguments discussed are thus relevant to understanding the law of other common law jurisdictions and, in many instances, to understanding the law of civil law jurisdictions as well.

Social Contract Theory for a Diverse World

Author : Ryan Muldoon
Publisher : Taylor & Francis
ISBN 13 : 1134793545
Total Pages : 142 pages
Book Rating : 4.1/5 (347 download)

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Book Synopsis Social Contract Theory for a Diverse World by : Ryan Muldoon

Download or read book Social Contract Theory for a Diverse World written by Ryan Muldoon and published by Taylor & Francis. This book was released on 2016-10-14 with total page 142 pages. Available in PDF, EPUB and Kindle. Book excerpt: Very diverse societies pose real problems for Rawlsian models of public reason. This is for two reasons: first, public reason is unable accommodate diverse perspectives in determining a regulative ideal. Second, regulative ideals are unable to respond to social change. While models based on public reason focus on the justification of principles, this book suggests that we need to orient our normative theories more toward discovery and experimentation. The book develops a unique approach to social contract theory that focuses on diverse perspectives. It offers a new moral stance that author Ryan Muldoon calls, "The View From Everywhere," which allows for substantive, fundamental moral disagreement. This stance is used to develop a bargaining model in which agents can cooperate despite seeing different perspectives. Rather than arguing for an ideal contract or particular principles of justice, Muldoon outlines a procedure for iterated revisions to the rules of a social contract. It expands Mill's conception of experiments in living to help form a foundational principle for social contract theory. By embracing this kind of experimentation, we move away from a conception of justice as an end state, and toward a conception of justice as a trajectory. Listen to Robert Talisse interview Ryan Muldoon about Social Contract Theory for a Diverse World on the podcast, New Books in Philosophy: http://tinyurl.com/j9oq324 Also, read Ryan Muldoon’s related Niskanen Center article, "Diversity and Disagreement are the Solution, Not the Problem," published Jan. 10, 2017: https://niskanencenter.org/blog/diversity-disagreement-solution-not-problem/

Advances in Economic Theory

Author : Truman Fassett Bewley
Publisher : CUP Archive
ISBN 13 : 9780521389259
Total Pages : 452 pages
Book Rating : 4.3/5 (892 download)

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Book Synopsis Advances in Economic Theory by : Truman Fassett Bewley

Download or read book Advances in Economic Theory written by Truman Fassett Bewley and published by CUP Archive. This book was released on 1989-07-28 with total page 452 pages. Available in PDF, EPUB and Kindle. Book excerpt: These articles should be helpful to anyone with training in economics.

Justice in Transactions

Author : Peter Benson
Publisher : Harvard University Press
ISBN 13 : 0674237595
Total Pages : 625 pages
Book Rating : 4.6/5 (742 download)

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Book Synopsis Justice in Transactions by : Peter Benson

Download or read book Justice in Transactions written by Peter Benson and published by Harvard University Press. This book was released on 2019-12-03 with total page 625 pages. Available in PDF, EPUB and Kindle. Book excerpt: Legal thinkers typically justify contract law on the basis of economics or promissory morality. But Peter Benson takes another approach. He argues that contract is best explained as a transfer of rights governed by a conception of justice. The result is a comprehensive theory of contract law congruent with Rawlsian liberalism.

The Choice Theory of Contracts

Author : Hanoch Dagan
Publisher : Cambridge University Press
ISBN 13 : 1107135982
Total Pages : 195 pages
Book Rating : 4.1/5 (71 download)

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Book Synopsis The Choice Theory of Contracts by : Hanoch Dagan

Download or read book The Choice Theory of Contracts written by Hanoch Dagan and published by Cambridge University Press. This book was released on 2017-04-17 with total page 195 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Choice Theory of Contracts is an engaging landmark that shows, for the first time, how freedom matters to contract.

Contract Theory for Wireless Networks

Author : Yanru Zhang
Publisher : Springer
ISBN 13 : 331953288X
Total Pages : 121 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 121 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.

The Economics of Contracts, second edition

Author : Bernard Salanie
Publisher : MIT Press
ISBN 13 : 0262534223
Total Pages : 257 pages
Book Rating : 4.2/5 (625 download)

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Book Synopsis The Economics of Contracts, second edition by : Bernard Salanie

Download or read book The Economics of Contracts, second edition written by Bernard Salanie and published by MIT Press. This book was released on 2017-02-17 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

Classical Social Contract Theory

Author : Sebastian Erckel
Publisher : GRIN Verlag
ISBN 13 : 3640326946
Total Pages : 19 pages
Book Rating : 4.6/5 (43 download)

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Book Synopsis Classical Social Contract Theory by : Sebastian Erckel

Download or read book Classical Social Contract Theory written by Sebastian Erckel and published by GRIN Verlag. This book was released on 2009-05-11 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt: Essay from the year 2008 in the subject Politics - Political Theory and the History of Ideas Journal, grade: 80%= good, University of Kerala (Department of Political Science), course: Political Theory- Liberal Tradition, language: English, abstract: This essay compares the classical social contract theories of Hobbes, Locke and Rousseau. Different perceptions of the state of nature resulted in different ideas about the social contract and its emphasis on either security (Hobbes), individual rights (Locke) or the collective freedom of Rousseau's general will. Political philosophy is believed to have started with Plato’s “Republic”, the first known sophisticated analysis of a fundamental question that humans have probably been concerned with much longer: how should human society be organised, i.e. who should rule and why? Plato believed that ruling required special training and skills and should therefore be left to an aristocracy of guardians who had received extensive training. While the notion that ruling requires expertise can hardly be denied there is also agreement among most philosophers that whoever qualifies for the job of ruling needs to do so with the interest of the people in mind. But what is the interest of the people and how can it be discovered? According to Plato, a necessary precondition for rulers is wisdom and that is why he wanted his guardians to be especially trained in philosophy. One may think that the people themselves should know what is best for them but somewhat surprisingly this idea has been rejected not just by Plato but also by many philosophers following him. Another approach is to link rule on Earth to a mandate received from a divine Creator. However, even the idea that humans could not exist without a government has been questioned, most notably by anarchism. Thus, the question of how political rule, the power to make decisions for others, could be justified is an essential one. Only legitimate rule creates obligation and without obligation it is hard to see how any form of society can survive. It is precisely for these elementary questions that social contract theories attempt to provide an answer for. The social contract can be seen as a device both for justifying not only rule itself but a particular type of rule, and demonstrating that political obligation can indeed be demanded. A unique feature of the classical social contract theories discussed in this paper is that they started out with an analysis of the state of nature.

Modern Social Contract Theory

Author : Albert Weale
Publisher : Oxford University Press
ISBN 13 : 0192594990
Total Pages : 471 pages
Book Rating : 4.1/5 (925 download)

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Book Synopsis Modern Social Contract Theory by : Albert Weale

Download or read book Modern Social Contract Theory written by Albert Weale and published by Oxford University Press. This book was released on 2020-06-10 with total page 471 pages. Available in PDF, EPUB and Kindle. Book excerpt: Modern Social Contract Theory provides an exposition and evaluation of major work in social contract theory from 1950 to the present. It locates the central themes of that theory in the intellectual legacy of utilitarianism, particularly the problems of defining principles of justice and of showing the grounds of moral obligation. It demonstrates how theorists responded in a novel way to the dilemmas articulated in utilitarianism, developing in their different approaches a constructivist method in ethics, a method that aimed to vindicate a liberal, democratic and just political order. A distinctive feature of the book is its comparative approach. By placing the works of Barry, Buchanan and Tullock, Harsanyi, Gauthier, Grice, Rawls, and Scanlon alongside one another, similarities and differences are brought out, most notably in the way in which principles are derived by each author from the contractual construction as well as the extent to which the obligation to adopt those principles can be rationally grounded. Each theory is placed in its particular intellectual context. Special attention is paid to the contrasting theories of rationality adopted by the different authors, whether that be utility theory or a deliberative conception of rationality, with the intention of assessing how far the principles advanced can be justified by reference to the hypothetical choices of rational contracting agents. The book concludes with a discussion of some principal objections to the enterprise of contract theory, and offers its own programme for the future of that theory taking the form of the empirical method.

Contract Theory in Historical Context

Author : Deborah Baumgold
Publisher : BRILL
ISBN 13 : 9004184252
Total Pages : 209 pages
Book Rating : 4.0/5 (41 download)

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Book Synopsis Contract Theory in Historical Context by : Deborah Baumgold

Download or read book Contract Theory in Historical Context written by Deborah Baumgold and published by BRILL. This book was released on 2010 with total page 209 pages. Available in PDF, EPUB and Kindle. Book excerpt: These essays carefully show that classic social-contract theory was an ancien regime genre. Far more than is commonly realized, the local horizon was built into Hobbes s and Locke s theories and the genre drew on the absolutism of Bodin and Grotius.

Just Exchange

Author : Francis H. Buckley
Publisher : Routledge
ISBN 13 : 1135996180
Total Pages : 216 pages
Book Rating : 4.1/5 (359 download)

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Book Synopsis Just Exchange by : Francis H. Buckley

Download or read book Just Exchange written by Francis H. Buckley and published by Routledge. This book was released on 2004-11-30 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: Now, for the first time, there is a comprehensive, eminently readable book designed to focus thinking in the area of contract law. This book bridges the gap between law and economics by confronting normative values that economists too often deem the preserve of moral philosophers. Contract theorists, on the other hand, are seldom in sympathy with economic efficiency norms. While free bargaining continues to be regarded with suspicion by legal scholars who are hostile to private ordering, the proper scope of free bargaining remains in dispute. Combined with a recent renewed interest in this field, these academic tensions mean that the time is right for a reconsideration of contract law. Drawing on scholarship from diverse fields and using illuminating and erudite examples, Just Exchange is entertaining as well as informative. Of interest to economists, lawyers, public policy-makers and those intersted in contract theory, this volume is a valuable overview of a vital intersection between legal studies and economics.

The Richness of Contract Law

Author : R.A. Hillman
Publisher : Springer Science & Business Media
ISBN 13 : 9401156808
Total Pages : 289 pages
Book Rating : 4.4/5 (11 download)

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Book Synopsis The Richness of Contract Law by : R.A. Hillman

Download or read book The Richness of Contract Law written by R.A. Hillman and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 289 pages. Available in PDF, EPUB and Kindle. Book excerpt: Scholars have produced a wide variety of theoretical work on contract law. This is the first book to compile it, to present it coherently, to evaluate it, and to supply numerous references to additional sources. The author also offers his own practical perspective that emphasizes contract law's richness and complexity and questions the utility of abstract unitary theories. The author argues that, notwithstanding contract law's complexity, it successfully facilitates the formation and enforcement of private arrangements and ensures a degree of fairness in the process of exchange. Each chapter presents a pair of largely contrasting theories to clarify the central issue of contract law and theory, to set forth the range of views, and to help identify a practical middle ground. Among the contract theories discussed and analyzed are promise, contextual, feminist, formal, mainstream, critical, economic, empirical, and relational. The book should interest legal theorists, practising lawyers, law students, and general readers who want to learn more about contract law and theory.

Social Contract

Author :
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (984 download)

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Book Synopsis Social Contract by :

Download or read book Social Contract written by and published by . This book was released on 1962 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Social Contract Theory

Author : Michael Lessnoff
Publisher : NYU Press
ISBN 13 : 9780814750551
Total Pages : 233 pages
Book Rating : 4.7/5 (55 download)

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Book Synopsis Social Contract Theory by : Michael Lessnoff

Download or read book Social Contract Theory written by Michael Lessnoff and published by NYU Press. This book was released on 1990-12-01 with total page 233 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Contract Theory

Author : Larry A. DiMatteo
Publisher :
ISBN 13 :
Total Pages : 248 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis Contract Theory by : Larry A. DiMatteo

Download or read book Contract Theory written by Larry A. DiMatteo and published by . This book was released on 1998 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: Reviews the evolution of the dialectic between the objective and subjective in contract jurisprudence. Looks at its relationship to other concepts, its variations, and factors influencing it. Then examines its applications in specific areas where the tension between the two poles of contract is most apparent. Annotation copyrighted by Book News, Inc., Portland, OR