Empirical Tests of Contract Theory
Author: Meng-Chi Tang
Publisher:
Published: 2009
Total Pages: 170
ISBN-13:
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Foundations of Insurance Economics
Author: Georges Dionne
Publisher: Springer Science & Business Media
Published: 1992
Total Pages: 748
ISBN-13: 0792392043
DOWNLOAD EBOOKEconomic and financial research on insurance markets has undergone dramatic growth since its infancy in the early 1960s. Our main objective in compiling this volume was to achieve a wider dissemination of key papers in this literature. Their significance is highlighted in the introduction, which surveys major areas in insurance economics. While it was not possible to provide comprehensive coverage of insurance economics in this book, these readings provide an essential foundation to those who desire to conduct research and teach in the field. In particular, we hope that this compilation and our introduction will be useful to graduate students and to researchers in economics, finance, and insurance. Our criteria for selecting articles included significance, representativeness, pedagogical value, and our desire to include theoretical and empirical work. While the focus of the applied papers is on property-liability insurance, they illustrate issues, concepts, and methods that are applicable in many areas of insurance. The S. S. Huebner Foundation for Insurance Education at the University of Pennsylvania's Wharton School made this book possible by financing publication costs. We are grateful for this assistance and to J. David Cummins, Executive Director of the Foundation, for his efforts and helpful advice on the contents. We also wish to thank all of the authors and editors who provided permission to reprint articles and our respective institutions for technical and financial support.
The Economics of Contracts
Author: Eric Brousseau
Publisher: Cambridge University Press
Published: 2002-10-17
Total Pages: 604
ISBN-13: 9780521893138
DOWNLOAD EBOOKA 2002 survey of economics of contracts appealing to scholars in economics, management and law.
Essays on Contract Design and Incentive Provision
Author: Eva I. Hoppe-Fischer
Publisher: Springer
Published: 2019-02-19
Total Pages: 217
ISBN-13: 3658241330
DOWNLOAD EBOOKContract theory, which emphasizes the importance of unverifiable actions and private information, has been a highly active field of research in microeconomics in the last decades. This thesis is divided into two parts. Part I consists of three chapters that study contract-theoretic models which are motivated by the classic procurement problem of a principal who wants an agent to deliver a certain good or service. In such models it is typically assumed that decision makers are interested in their own monetary payoffs only. Moreover, they have unlimited cognitive abilities and behave in a perfectly rational way. Yet, in practice people often do not behave this way. While empirical research is very difficult in contract theory, laboratory experiments have recently turned out to be an important source of data. In Part II, three experimental studies are presented that investigate contract-theoretic problems brought up in Part I.
Moral Contract Theory and Social Cognition
Author: Peter Timmerman
Publisher: Springer Science & Business Media
Published: 2014-03-10
Total Pages: 233
ISBN-13: 3319042629
DOWNLOAD EBOOKThis interdisciplinary work draws on research from psychology and behavioral economics to evaluate the plausibility of moral contract theory. In a compelling manner with implications for moral theory more broadly, the author’s novel approach resolves a number of key contingencies in contractarianism and contractualism. Acting in accordance with principles that we could all agree to under certain conditions requires that agents are capable of taking up the perspectives of others. Research in social and developmental psychology shows just how challenging this can be. The author discusses in detail what implications findings on perspective-taking have for contract theory. He concludes with cautious optimism that, despite our limitations, it lies within our power to become better at perspective-taking and to adopt a contractarian or contractualist mode of moral thinking. This does however require us to be much more attentive to the standpoints of others than we tend to be. Contract theorists also assume that agents can be moved to comply with principles that would be the object of agreement, with some arguing they can be so moved out of their own interest. The book show that, in contrast to the suspicion of many philosophers, this idea is largely supported by research on the dynamics of trust and our ability to distinguish trustworthy from untrustworthy others. Bringing a welcome dose of realism to the debate on contract theory, the author shows the value of assessing moral theories from an empirical perspective.
Handbook of Insurance
Author: Georges Dionne
Publisher: Springer Science & Business Media
Published: 2012-12-06
Total Pages: 980
ISBN-13: 9401006423
DOWNLOAD EBOOKIn the 1970's, the research agenda in insurance was dominated by optimal insurance coverage, security design, and equilibrium under conditions of imperfect information. The 1980's saw a growth of theoretical developments including non-expected utility, price volatility, retention capacity, the pricing and design of insurance contracts in the presence of multiple risks, and the liability insurance crisis. The empirical study of information problems, financial derivatives, and large losses due to catastrophic events dominated the research agenda in the 1990's. The Handbook of Insurance provides a single reference source on insurance for professors, researchers, graduate students, regulators, consultants, and practitioners, that reviews the research developments in insurance and its related fields that have occurred over the last thirty years. The book starts with the history and foundations of insurance theory and moves on to review asymmetric information, risk management and insurance pricing, and the industrial organization of insurance markets. The book ends with life insurance, pensions, and economic security. Each chapter has been written by a leading authority in insurance, all contributions have been peer reviewed, and each chapter can be read independently of the others.
Advanced Microeconomics for Contract, Institutional, and Organizational Economics
Author: W. Bentley MacLeod
Publisher: MIT Press
Published: 2022-04-05
Total Pages: 417
ISBN-13: 0262046873
DOWNLOAD EBOOKA graduate textbook on microeconomics, covering decision theory, game theory, and the foundations of contract theory, with a unique focus on the empirical. This graduate-level text on microeconomics, covering such topics as decision theory, game theory, bargaining theory, contract theory, trade under asymmetric information, and relational contract theory, is unique in its emphasis on the interplay between theory and evidence. It reviews the microeconomic theory of exchange “from the ground up,” aiming to produce a set of models and hypotheses amenable to empirical exploration, with particular focus on models that are useful for the study of contracts, institutions, and organizations. It explores research that extends price theory to the exchange of commodities when markets are incomplete, discussing recent developments in the field. Topics covered include the relationship between theory and evidence; decision theory as it is used in contract theory and institutional design; game theory; axiomatic and strategic bargaining theory; agency theory and the class of models that are considered to constitute contract theory, with discussions of moral hazard and trade with asymmetric information; and the theory of relational contracts. The final chapter offers a nontechnical review that provides a guide to which model is the most appropriate for a particular application. End-of-chapter exercises help students expand their understanding of the material, and an appendix provides brief introduction to optimization theory and the welfare theorem of general equilibrium theory. Students are assumed to be familiar with general equilibrium theory and basic constrained optimization theory.
The Oxford Handbook of Venture Capital
Author: Douglas Cumming
Publisher: Oxford University Press
Published: 2012-04-24
Total Pages: 1052
ISBN-13: 019992094X
DOWNLOAD EBOOKVenture capital (VC) refers to investments provided to early-stage, innovative, and high growth start-up companies. A common characteristic of all venture capital investments is that investee companies do not have cash flows to pay interest on debt or dividends on equity. Rather, investments are made with a view towards capital gain on exit. The most sought after exit routes are an initial public offering (IPO), where a company lists on a stock exchange for the first time, and an acquisition exit (trade sale), where the company is sold in entirety to another company. However, VCs often exit their investments by secondary sales, wherein the entrepreneur retains his or her share but the VC sells to another company or investor buybacks, where the entrepreneur repurchases the VC`s interest and write-offs (liquidations). The Oxford Handbook of Venture Capital provides a comprehensive picture of all the issues dealing with the structure, governance, and performance of venture capital from a global perspective. The handbook comprises contributions from 55 authors currently based in 12 different countries.
The Handbook of Organizational Economics
Author: Robert Gibbons
Publisher: Princeton University Press
Published: 2012-12-09
Total Pages: 1248
ISBN-13: 1400845351
DOWNLOAD EBOOKThe definitive introduction to organizational economics, with contributions by leaders in the field In even the most market-oriented economies, most economic transactions occur not in markets but inside managed organizations, particularly business firms. Organizational economics seeks to understand the nature and workings of such organizations and their impact on economic performance. This landmark book assembles the leading figures in organizational economics to present the first comprehensive view of both the current state of research in this fast-emerging field and where it might be headed. The Handbook of Organizational Economics surveys the major theories, evidence, and methods used in the field. It displays the breadth of topics in organizational economics, including the roles of individuals and groups in organizations, organizational structures and processes, the boundaries of the firm, contracts between and within firms, and more. The defining book on the subject, The Handbook of Organizational Economics is essential reading for researchers and students looking to understand this emerging field in economics. Presents the first comprehensive treatment of organizational economics Features contributions by leaders in the field Unifies and extends existing literatures Describes theoretical and empirical methods used today
Employment Contracts, Psychological Contracts, and Employee Well-Being
Author: David E. Guest
Publisher: Oxford University Press
Published: 2010-07-22
Total Pages: 342
ISBN-13: 0199542694
DOWNLOAD EBOOKThe book covers seven countries: Belgium, Germany, the Netherlands, Spain, Sweden, and the UK, as well as Israel as a comparator outside Europe. Data was collected from over 5,000 workers in over 200 organizations, and from both permanent and temporary workers, as well as from employers. --
