[PDF] Contract Theory eBook

Author : Patrick Bolton
Publisher : MIT Press
Page : 746 pages
File Size : 47,1 MB
Release : 2004-12-10
Category : Business & Economics
ISBN : 9780262025768

GET BOOK

A comprehensive introduction to contract theory, emphasizing common themes and methodologies as well as applications in key areas. Despite the vast research literature on topics relating to contract theory, only a few of the field's core ideas are covered in microeconomics textbooks. This long-awaited book fills the need for a comprehensive textbook on contract theory suitable for use at the graduate and advanced undergraduate levels. It covers the areas of agency theory, information economics, and organization theory, highlighting common themes and methodologies and presenting the main ideas in an accessible way. It also presents many applications in all areas of economics, especially labor economics, industrial organization, and corporate finance. The book emphasizes applications rather than general theorems while providing self-contained, intuitive treatment of the simple models analyzed. In this way, it can also serve as a reference for researchers interested in building contract-theoretic models in applied contexts.The book covers all the major topics in contract theory taught in most graduate courses. It begins by discussing such basic ideas in incentive and information theory as screening, signaling, and moral hazard. Subsequent sections treat multilateral contracting with private information or hidden actions, covering auction theory, bilateral trade under private information, and the theory of the internal organization of firms; long-term contracts with private information or hidden actions; and incomplete contracts, the theory of ownership and control, and contracting with externalities. Each chapter ends with a guide to the relevant literature. Exercises appear in a separate chapter at the end of the book.

Author : Jakša Cvitanic
Publisher : Springer Science & Business Media
Page : 258 pages
File Size : 37,39 MB
Release : 2012-09-26
Category : Mathematics
ISBN : 3642141994

GET BOOK

In recent years there has been a significant increase of interest in continuous-time Principal-Agent models, or contract theory, and their applications. Continuous-time models provide a powerful and elegant framework for solving stochastic optimization problems of finding the optimal contracts between two parties, under various assumptions on the information they have access to, and the effect they have on the underlying "profit/loss" values. This monograph surveys recent results of the theory in a systematic way, using the approach of the so-called Stochastic Maximum Principle, in models driven by Brownian Motion. Optimal contracts are characterized via a system of Forward-Backward Stochastic Differential Equations. In a number of interesting special cases these can be solved explicitly, enabling derivation of many qualitative economic conclusions.

Author : Bernard Salanié
Publisher : MIT Press
Page : 257 pages
File Size : 21,14 MB
Release : 2005-03-11
Category : Business & Economics
ISBN : 0262195259

GET BOOK

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.

Author : Ryan Muldoon
Publisher : Taylor & Francis
Page : 143 pages
File Size : 10,45 MB
Release : 2016-10-14
Category : Philosophy
ISBN : 1134793545

GET BOOK

Very diverse societies pose real problems for Rawlsian models of public reason. This is for two reasons: first, public reason is unable accommodate diverse perspectives in determining a regulative ideal. Second, regulative ideals are unable to respond to social change. While models based on public reason focus on the justification of principles, this book suggests that we need to orient our normative theories more toward discovery and experimentation. The book develops a unique approach to social contract theory that focuses on diverse perspectives. It offers a new moral stance that author Ryan Muldoon calls, "The View From Everywhere," which allows for substantive, fundamental moral disagreement. This stance is used to develop a bargaining model in which agents can cooperate despite seeing different perspectives. Rather than arguing for an ideal contract or particular principles of justice, Muldoon outlines a procedure for iterated revisions to the rules of a social contract. It expands Mill's conception of experiments in living to help form a foundational principle for social contract theory. By embracing this kind of experimentation, we move away from a conception of justice as an end state, and toward a conception of justice as a trajectory. Listen to Robert Talisse interview Ryan Muldoon about Social Contract Theory for a Diverse World on the podcast, New Books in Philosophy: http://tinyurl.com/j9oq324 Also, read Ryan Muldoon’s related Niskanen Center article, "Diversity and Disagreement are the Solution, Not the Problem," published Jan. 10, 2017: https://niskanencenter.org/blog/diversity-disagreement-solution-not-problem/

Author : Peter Benson
Publisher : Harvard University Press
Page : 625 pages
File Size : 28,43 MB
Release : 2019-12-03
Category : Law
ISBN : 0674237595

GET BOOK

Legal thinkers typically justify contract law on the basis of economics or promissory morality. But Peter Benson takes another approach. He argues that contract is best explained as a transfer of rights governed by a conception of justice. The result is a comprehensive theory of contract law congruent with Rawlsian liberalism.

Author : Truman Fassett Bewley
Publisher : CUP Archive
Page : 452 pages
File Size : 40,47 MB
Release : 1989-07-28
Category : Business & Economics
ISBN : 9780521389259

GET BOOK

These articles should be helpful to anyone with training in economics.

Author : Stephen A. Smith
Publisher : OUP Oxford
Page : 480 pages
File Size : 21,59 MB
Release : 2004-03-25
Category : Law
ISBN : 0191018813

GET BOOK

This book is both an examination of, and a contribution to, our understanding of the theoretical foundations of the common law of contract. Focusing on contemporary debates in contract theory, Contract Theory aims to help readers better understand the nature and justification of the general idea of contractual obligation, as well as the nature and justification of the particular rules that make up the law of contract. The book is in three parts. Part I introduces the idea of 'contract theory', and presents a framework for identifying, classifying, and evaluating contract theories. Part II describes and evaluates the most important general theories of contract; examples include promissory theories, reliance-based theories, and economic theories. In Part III, the theoretical issues raised by the various specific doctrines that make up the law of contract (e.g., offer and acceptance, consideration, mistake, remedies, etc.) are examined in separate chapters. The legal focus of the book is the common law of the United Kingdom, but the theoretical literature discussed is international in origin; the arguments discussed are thus relevant to understanding the law of other common law jurisdictions and, in many instances, to understanding the law of civil law jurisdictions as well.

Author : Hanoch Dagan
Publisher : Cambridge University Press
Page : 195 pages
File Size : 44,95 MB
Release : 2017-04-17
Category : Law
ISBN : 1107135982

GET BOOK

The Choice Theory of Contracts is an engaging landmark that shows, for the first time, how freedom matters to contract.

Author : Arthur Campbell
Publisher : MIT Press
Page : 153 pages
File Size : 33,14 MB
Release : 2007-07-20
Category : Business & Economics
ISBN : 0262532999

GET BOOK

The solutions manual for Bolton and Dewatripont's Contract Theory includes complete solutions to 27 of the 54 exercises in the text. Contract Theory by Patrick Bolton and Mathias Dewatripont, a comprehensive textbook on contract theory suitable for use at the graduate and advanced undergraduate levels, covers the areas of agency theory, information economics, and organization theory and presents many applications in all areas of economics, especially labor economics, industrial organization, and corporate finance. The exercises at the end of the book not only review, chapter by chapter, the basic concepts introduced in the text but also explore additional ideas and applications based on teaching material accumulated over the years by the authors and other instructors of contract theory. The solutions manual to this essential text gives complete solutions to 27 of the 54 exercises in the text, allowing students to study and compare their answers and take greater advantage of this crucial part of the book. The solutions manual follows the structure of the text, grouping exercises by chapter. Chapters 2-6 cover such static bilateral contracting problems as screening, signaling, and moral hazard; chapters 7 and 8 treat multilateral contracting, including auctions, bilateral trade under private information, and multiagent moral hazard; chapters 9 and 10 explore problems of repeated bilateral contracting; and chapters 11-13 cover incomplete contracts, the theory of ownership and control, contracting with externalities, and common agency.

Author : Deborah Baumgold
Publisher : BRILL
Page : 209 pages
File Size : 26,82 MB
Release : 2010
Category : Literary Collections
ISBN : 9004184252

GET BOOK

These essays carefully show that classic social-contract theory was an ancien regime genre. Far more than is commonly realized, the local horizon was built into Hobbes s and Locke s theories and the genre drew on the absolutism of Bodin and Grotius.