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Incentive Contracts with Strategic Agents

Incentive Contracts with Strategic Agents PDF Author: Jacques Paul Lawarrée
Publisher:
ISBN:
Category :
Languages : en
Pages : 418

Book Description


Incentive Contracts with Strategic Agents

Incentive Contracts with Strategic Agents PDF Author: Jacques Paul Lawarrée
Publisher:
ISBN:
Category :
Languages : en
Pages : 418

Book Description


The Oxford Handbook of Strategy Implementation

The Oxford Handbook of Strategy Implementation PDF Author: Michael A. Hitt
Publisher: Oxford University Press
ISBN: 0190650257
Category : Business & Economics
Languages : en
Pages : 553

Book Description
Many strategies fail not because they are improperly formulated but because they are poorly implemented. The Oxford Handbook of Strategy Implementation examines the crucial role of implementation in how business and managerial strategies produce returns. In this wide-ranging collection of essays, leading scholars address governance, resources, human capital, and accounting-based control systems, advancing our understanding of strategy implementation and identifying opportunities for future research on this important process.

Games, Strategies, and Managers

Games, Strategies, and Managers PDF Author: John McMillan
Publisher: Oxford University Press
ISBN: 9780195108033
Category : Business & Economics
Languages : en
Pages : 268

Book Description
Managers are continually called on to make strategic decisions based on how someone else will act, and react, and this is exactly what game theory was invented to analyze. With the publication of John McMillan's 'Games, Strategies, and Managers, ' managers can now unlock the power of this bold way of thinking. The book strips away distracting details and provides insights into what is really going on in every negotiation and strategic decision.

Agency Theory, Information, and Incentives

Agency Theory, Information, and Incentives PDF Author: Günter Bamberg
Publisher: Springer Science & Business Media
ISBN: 3642750605
Category : Business & Economics
Languages : en
Pages : 538

Book Description
Agency Theory is a new branch of economics which focusses on the roles of information and of incentives when individuals cooperate with respect to the utilisation of resources. Basic approaches are coming from microeco nomic theory as well as from risk analysis. Among the broad variety of ap plications are: the many designs of contractual arrangements, organiza tions, and institutions as well as the manifold aspects of the separation of ownership and control so fundamental for business finance. After some twenty years of intensive research in the field of information economics it might be timely to present the most basic issues, questions, models, and applications. This volume Agency Theory, Information, and Incentives offers introductory surveys as well as results of individual rese arch that seem to shape that field of information economics appropriately. Some 30 authors were invited to present their subjects in such a way that students could easily become acquainted with the main ideas of informa tion economics. So the aim of Agency Theory, Information, and Incentives is to introduce students at an intermediate level and to accompany their work in classes on microeconomics, information economics, organization, management theory, and business finance. The topics selected form the eight sections of the book: 1. Agency Theory and Risk Sharing 2. Information and Incentives 3. Capital Markets and Moral Hazard 4. Financial Contracting and Dividends 5. External Accounting and Auditing 6. Coordination in Groups 7. Property Rights and Fairness 8. Agency Costs.

Sourcing Strategy

Sourcing Strategy PDF Author: Sudhi Seshadri
Publisher: Springer Science & Business Media
ISBN: 9780387251820
Category : Business & Economics
Languages : en
Pages : 346

Book Description
Sourcing Strategy is about sourcing as a long term strategic activity. Myopic purchasing management stops short with describing functional procedures and procedural innovations such as online order processing. The goal of this book is not merely to document sourcing strategy, but to provide the tools to determine it. Therefore, rather than merely describe common sourcing processes, the book takes a normative approach to sourcing strategy. It argues for a rational, complete and integrated process view. It supports its recommendations with logical arguments from an interdisciplinary and analytical approach grounded in microeconomics, law and business strategy. Part 1 of the book explains the economic and business principles that underlie sourcing strategies. It derives policies that guide viable strategies to meet sourcing goals. Part 2 applies these to creative designs for standard sourcing scenarios.

Strategy, Economic Organization, and the Knowledge Economy

Strategy, Economic Organization, and the Knowledge Economy PDF Author: Nicolai J. Foss
Publisher: OUP Oxford
ISBN: 0191528927
Category : Business & Economics
Languages : en
Pages : 296

Book Description
The rise of the knowledge economy has far-reaching implications for the nature of economic organization as well as firm strategy. Not surprisingly, thinking in management studies as well as in economics has been profoundly affected by these changes. Thus, management thinking in particular has been increasingly characterized by a schism between those who advocate 'knowledge' or 'capabilities-based' approaches in the strategy and organization fields and those who adopt more economics-influenced approaches, notably the economics of organization. This book is a sustained attempt to overcome this schism. Its basic argument is that knowledge-based and organizational economics approaches are not substitutes but complements. In particular, organizational economics has much to contribute with respect to furthering the understanding of efficient organization and strategy in the emerging knowledge economy. This theme is taken through several theoretical as well as empirical variations. Themes such as the incentive liabilities of flat, 'knowledge-based' organizations and the role of complementary HRM practices for fostering knowledge sharing and creation are extensively treated. The book thus contains important implications for knowledge management, organizational design, and firm strategy." The book encompasses nine chapters which critically examine current thinking on strategy, and organization. The reasoning is non-technical. While primarily aimed at a management studies audience, economists and other social scientists will also benefit from it, including Advanced Students, Academics, and Researchers.

Contract Strategies for Major Projects

Contract Strategies for Major Projects PDF Author: Edward W. Merrow
Publisher: John Wiley & Sons
ISBN: 111990210X
Category : Business & Economics
Languages : en
Pages : 311

Book Description
Major Projects are Delayed by Months or Years, and Cost Millions More Than Budgeted, Because of Common Mistakes Made at the Contracting Stage Organizations that invest huge amounts of capital in major building/industrial projects almost never do the engineering and building themselves. They hire engineering and construction contractors to do it for them. Unfortunately, selecting contractors and negotiating the terms of a major project is one of the most difficult aspects of project management...and organizations waste billions of dollars and "bake in" months or years of delay by doing it wrong. Contracting is also the area of project management that is most prone to firmly held opinions unencumbered by any facts. We intend to remedy that situation with this book. Drawing on a properietary detailed database of over 1100 major projects, the world's leading industrial engineering project consultant, Ed Merrow explains: Key Principles of Contracting for Major Projects: Owners are from Mars; contractors are from Venus All the biggest risks in contracting belong to the owner Contracting “games” will normally be won by contractors, not owners Most risk transfer from owners to contractors is an illusion Contractors do good projects well and bad projects poorly Contractors may have shareholders, but they are not your shareholders! Mixing different contract types with different contractors on the same project is unwise Economize on the need for trust; trust only when being trustworthy has value Merrow also explains: Which contract incentives work and which don’t and WHY Which of over a dozen contracting strategies work best and which ones hardly ever work and WHY The strategic advice in this book is designed for owners and contractor project managers, team members and supply chain, executives, and other business leaders involved in major projects. It's also an indispensable resource for engineers, leaders of industrial firms, bankers, and academics studying the messy realities of the construction and engineering industries.

Game Theory

Game Theory PDF Author: Drew Fudenberg
Publisher: MIT Press
ISBN: 9780262061414
Category : Business & Economics
Languages : en
Pages : 616

Book Description
This advanced text introduces the principles of noncooperative game theory in a direct and uncomplicated style that will acquaint students with the broad spectrum of the field while highlighting and explaining what they need to know at any given point. This advanced text introduces the principles of noncooperative game theory—including strategic form games, Nash equilibria, subgame perfection, repeated games, and games of incomplete information—in a direct and uncomplicated style that will acquaint students with the broad spectrum of the field while highlighting and explaining what they need to know at any given point. The analytic material is accompanied by many applications, examples, and exercises. The theory of noncooperative games studies the behavior of agents in any situation where each agent's optimal choice may depend on a forecast of the opponents' choices. "Noncooperative" refers to choices that are based on the participant's perceived selfinterest. Although game theory has been applied to many fields, Fudenberg and Tirole focus on the kinds of game theory that have been most useful in the study of economic problems. They also include some applications to political science. The fourteen chapters are grouped in parts that cover static games of complete information, dynamic games of complete information, static games of incomplete information, dynamic games of incomplete information, and advanced topics.

Securitization Economics

Securitization Economics PDF Author: Laurent Gauthier
Publisher: Springer Nature
ISBN: 3030503267
Category : Business & Economics
Languages : en
Pages : 494

Book Description
Securitization is widely used around the world, and structured products are one of the largest fixed-income asset classes. This textbook guides readers through the complexity of this financial technique and first introduces them to the mechanics of securitization and makes the key concepts, techniques and logic of this field accessible for teachers and students alike. Further, the textbook presents a systematic economic analysis of securitization, asking and answering why it exists, how it works, why it has failed, how complex structures operate, why they are so complex, and many other related questions. The author offers a unique approach, and combines detailed discussions of theoretical economics models with advanced empirical research in order to confront them to the perspective of an experienced practitioner in this market.

Game Theory in Management Accounting

Game Theory in Management Accounting PDF Author: David Mueller
Publisher: Springer
ISBN: 331961603X
Category : Business & Economics
Languages : en
Pages : 453

Book Description
This book demonstrates what kind of problems, originating in a management accounting setting, may be solved with game theoretic models. Game theory has experienced growing interest and numerous applications in the field of management accounting. The main focus traditionally has been on the field of non-cooperative behaviour, but the area of cooperative game theory has developed rapidly and has received increasing attention. Intensive research, in combination with the changing culture of publishing, has produced a nearly unmanageable number of publications in the areas concerned. Therefore, one main purpose of this volume is providing an intensive analysis of the intersection of these areas. In addition, the book strengthens the relationship between the theory and the practical applications and it illustrates the two-sided relationship between game theory and management accounting: new game theoretic models offer new fields of applications and these applications raise new questions for the theory.