The Economics of Contracts, second edition

The Economics of Contracts, second edition

Author: Bernard Salanie

Publisher: MIT Press

ISBN: 9780262534222

Category: Business & Economics

Page: 256

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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
The Economics of Contracts, second edition
Language: en
Pages: 256
Authors: Bernard Salanie
Categories: Business & Economics
Type: BOOK - Published: 2017-02-17 - Publisher: MIT Press

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
The Economics of Contracts
Language: en
Pages: 244
Authors: Bernard Salanié
Categories: Business & Economics
Type: BOOK - Published: 2005-03-11 - Publisher: MIT Press

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.
Planning and Design for Sustainable Urban Mobility
Language: en
Pages: 344
Authors: Un-Habitat
Categories: Political Science
Type: BOOK - Published: 2013-10-30 - Publisher: Routledge

Urban transport systems worldwide are faced by a multitude of challenges. Among the most visible of these are the traffic gridlocks experienced on city roads and highways all over the world. The prescribed solution to transport problems in most cities has thus been to build more infrastructures for cars, with
The Economics of Taxation, second edition
Language: en
Pages: 248
Authors: Bernard Salanie
Categories: Business & Economics
Type: BOOK - Published: 2011-11-10 - Publisher: MIT Press

A concise and rigorous text that combines theory, empirical work, and policy discussion to present core issues in the economics of taxation. This concise introduction to the economic theories of taxation is intuitive yet rigorous, relating the theories both to existing tax systems and to key empirical studies. The Economics
Microeconomics of Market Failures
Language: en
Pages: 240
Authors: Bernard Salanié
Categories: Business & Economics
Type: BOOK - Published: 2000-10-10 - Publisher: MIT Press

Bernard Salanié studies situations where competitive markets fail to achieve a collective optimum and the interventions used to remedy these so-called market failures. In this book Bernard Salanié studies situations where competitive markets fail to achieve a collective optimum and the interventions used to remedy these so-called market failures. He