The Theory of Incentives: The Principal-Agent Model

The Theory of Incentives: The Principal-Agent Model
Автор
 
Год
 
Страниц
 
1264
ISBN
 
0691091846
Издатель
 
Bantam Classics
Категория
 
Экономическая теория

Содержание:

History and Politics, The Treatment of Capitalism by Historians, The Anticapitalist Bias of American Historians, The Treatment of Capitalism by Continental Intellectuals, The Standard of Life of the Workers in England, 1790-1830, The Factory System of the Early Nineteenth Century

Описание:

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 todesign 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...

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