Economics of Accounting

Economics of Accounting
Author: Peter Ove Christensen
Publisher: Springer Science & Business Media
Total Pages: 675
Release: 2006-03-30
Genre: Business & Economics
ISBN: 0387265996

This book provides an integrated, technical exposition of key concepts in agency theory, with particular emphasis on analyses of the economic consequences of the characteristics of contractible performance measures, such as accounting reports. It provides a succinct source for learning the fundamentals of the economics of incentives. It will appeal to accounting researchers as well as those in other disciplines who are interested in the economics of management incentives.

Principles of Knowledge Representation and Reasoning

Principles of Knowledge Representation and Reasoning
Author: Jon Doyle
Publisher: Morgan Kaufmann
Total Pages: 680
Release: 1994
Genre: Computers
ISBN:

The proceedings of KR '94 comprise 55 papers on topics including deduction an search, description logics, theories of knowledge and belief, nonmonotonic reasoning and belief revision, action and time, planning and decision-making and reasoning about the physical world, and the relations between KR

Algorithmic Game Theory

Algorithmic Game Theory
Author: Burkhard Monien
Publisher: Springer
Total Pages: 363
Release: 2008-04-20
Genre: Computers
ISBN: 3540793097

This book constitutes the proceedings of the First International Symposium on Algorithmic Game Theory. It covers routing and scheduling, markets, mechanism design, a potpourri of games, solution concepts, and cost sharing.

The Theory of Incentives

The Theory of Incentives
Author: Jean-Jacques Laffont
Publisher: Princeton University Press
Total Pages: 436
Release: 2009-12-27
Genre: Business & Economics
ISBN: 1400829453

Economics has much to do with incentives--not least, incentives to work hard, to produce quality products, to study, to invest, and to save. Although Adam Smith amply confirmed this more than two hundred years ago in his analysis of sharecropping contracts, only in recent decades has a theory begun to emerge to place the topic at the heart of economic thinking. In this book, Jean-Jacques Laffont and David Martimort present the most thorough yet accessible introduction to incentives theory to date. Central to this theory is a simple question as pivotal to modern-day management as it is to economics research: What makes people act in a particular way in an economic or business situation? In seeking an answer, the authors provide the methodological tools to design institutions that can ensure good incentives for economic agents. This book focuses on the principal-agent model, the "simple" situation where a principal, or company, delegates a task to a single agent through a contract--the essence of management and contract theory. How does the owner or manager of a firm align the objectives of its various members to maximize profits? Following a brief historical overview showing how the problem of incentives has come to the fore in the past two centuries, the authors devote the bulk of their work to exploring principal-agent models and various extensions thereof in light of three types of information problems: adverse selection, moral hazard, and non-verifiability. Offering an unprecedented look at a subject vital to industrial organization, labor economics, and behavioral economics, this book is set to become the definitive resource for students, researchers, and others who might find themselves pondering what contracts, and the incentives they embody, are really all about.

An Introduction to the Economics of Information

An Introduction to the Economics of Information
Author: Inés Macho-Stadler
Publisher: Oxford University Press
Total Pages:
Release: 1996-10-03
Genre: Business & Economics
ISBN: 0191512079

In this revised second edition, An Introduction to the Economics of Information covers the consequences for the character and efficiency of the interaction between individuals and organizations when one party has more or better information on some aspect of the relationship. This is the condition of asymmetric information, under which the information gap will be exploited if, by doing so, the better-informed party can achieve some advantage. The book is written for a one-semester course for advanced undergraduates taking specialized course options, and for first-year postgraduate students of economics or business. After an introduction to the subject and the presentation of a benchmark model in which both parties share the same information throughout the relationship, chapters are devoted to the three main asymmetric information topics of Moral Hazard, Adverse Selection, and Signalling. The wide range of economic situations where the conclusions are applied includes such areas as finance, regulation, insurance, labour economics, health economics, and even politics. Each chapter presents the basic theory before moving on to applications and advanced topics. The problems are presented in the same framework throughout to allow easy comparison of the different results. This new edition incorporates extended exercises to test the student's understanding of the material, and to develop the tools and skills provided by the main text to solve other, original problems.

The Impact of Performance Budgeting on Public Spending in Germany's Laender

The Impact of Performance Budgeting on Public Spending in Germany's Laender
Author: Christiane Lorenz
Publisher: Springer Science & Business Media
Total Pages: 152
Release: 2012-02-02
Genre: Business & Economics
ISBN: 3834934836

Derived from the international literature on experiences with performance budgeting five elements which constitute performance budgeting as a comprehensive system can be identified in this book. This new definition is then applied to the German state level in order to investigate whether performance budgeting is effective in Germany, in detail, whether it actually leads to a reduction of public expenditure. With a survey in the state Ministries of Finance and an individually constructed panel dataset, the impact of the German performance budgeting reforms on their major aim, the enhancement of fiscal discipline, is empirically analyzed. The main result is that the potential of expenditure savings is prolonged by the enormous investments in the beginning.

The Oxford Handbook of Strategy Implementation

The Oxford Handbook of Strategy Implementation
Author: Michael A. Hitt
Publisher: Oxford University Press
Total Pages: 553
Release: 2017-02-02
Genre: Business & Economics
ISBN: 0190664908

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.

Advanced Microeconomics for Contract, Institutional, and Organizational Economics

Advanced Microeconomics for Contract, Institutional, and Organizational Economics
Author: W. Bentley MacLeod
Publisher: MIT Press
Total Pages: 417
Release: 2022-04-05
Genre: Business & Economics
ISBN: 0262046873

A 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.

Risk Aversion in Experiments

Risk Aversion in Experiments
Author: G.W. Harrison
Publisher: Emerald Group Publishing
Total Pages: 449
Release: 2008-02-29
Genre: Business & Economics
ISBN: 1849505470

Presents research utilizing laboratory experimental methods in economics.