The Economics Of Contracting

Author : David Frydlinger,Kate Vitasek,Jim Bergman,Tim Cummins
Publisher : Springer Nature
Page : 327 pages
File Size : 48,5 Mb
Release : 2021-05-24
Category : Business & Economics
ISBN : 9783030650995

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Contracting in the New Economy by David Frydlinger,Kate Vitasek,Jim Bergman,Tim Cummins Pdf

Today’s business environment is constantly evolving, filled with volatility, uncertainty, complexity and ambiguity and driven by digital transformation, globalization, and the need to creating value through innovation. These shifts demand that organizations view contracting through a different lens. Since it is impossible to predict every what-if scenario in a transactional contract, organizations in strategic and complex partnerships must shift to a mindset of shared goals and objectives built upon a strong foundation of transparency and trust, working together to mitigate risk much better than merely shifting risk to the weaker party. Contracting in the New Economy helps you to not only develop this mindset – but also offers the practical tools needed to embrace the social side of contracting, enabling your organization to harness the value creating potential of formal relational contracts. Briefly sharing the theoretical foundations that prove relational contracting works, it goes well beyond theory by providing powerful examples of relational contracting principles in practice. In addition, the authors provide a practical and proven approach for helping you to put relational contracting theory into practice for your own relationships. First by providing a framework for approaching any contracting situation and helping organizations finding the best contract model for each situation. And then by sharing five proven steps you can take to create an effective relational contract for you own strategic and complex business relationships. For anyone involved in developing contracts —lawyers, in-house counsels, contract managers, C-level managers, procurement officers, and so on — this book will empower you to create powerful cooperative alliances that will help you reach —and surpass — your business goals in today’s dynamic new environment.

Author : Eric Brousseau,Jean-Michel Glachant
Publisher : Cambridge University Press
Page : 604 pages
File Size : 41,7 Mb
Release : 2002-10-17
Category : Business & Economics
ISBN : 0521893135

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The Economics of Contracts by Eric Brousseau,Jean-Michel Glachant Pdf

A 2002 survey of economics of contracts appealing to scholars in economics, management and law.

Author : Victor P. Goldberg
Publisher : Cambridge University Press
Page : 270 pages
File Size : 42,6 Mb
Release : 1989
Category : Business & Economics
ISBN : 0521349206

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Readings in the Economics of Contract Law by Victor P. Goldberg Pdf

This collection brings together some of the main contributions to an important area of this work, the economics of contract law.

Author : Philippe Aghion,Mathias Dewatripont,Patrick Legros,Luigi Zingales
Publisher : Oxford University Press
Page : 224 pages
File Size : 42,5 Mb
Release : 2015-12-22
Category : Business & Economics
ISBN : 9780190259013

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The Impact of Incomplete Contracts on Economics by Philippe Aghion,Mathias Dewatripont,Patrick Legros,Luigi Zingales Pdf

The 1986 article by Sanford J. Grossman and Oliver D. Hart titled "A Theory of Vertical and Lateral Integration" has provided a framework for understanding how firm boundaries are defined and how they affect economic performance. The property rights approach has provided a formal way to introduce incomplete contracting ideas into economic modeling. The Impact of Incomplete Contracts on Economics collects papers and opinion pieces on the impact that this property right approach to the firm has had on the economics profession.

Author : W. Bentley MacLeod
Publisher : MIT Press
Page : 417 pages
File Size : 43,8 Mb
Release : 2022-04-05
Category : Business & Economics
ISBN : 9780262046879

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Advanced Microeconomics for Contract, Institutional, and Organizational Economics by W. Bentley MacLeod Pdf

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.

Author : Patrick Bolton,Mathias Dewatripont
Publisher : MIT Press
Page : 746 pages
File Size : 50,8 Mb
Release : 2004-12-10
Category : Business & Economics
ISBN : 0262025760

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Contract Theory by Patrick Bolton,Mathias Dewatripont Pdf

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 : Douglas G. Baird
Publisher : Edward Elgar Publishing
Page : 686 pages
File Size : 53,6 Mb
Release : 2007
Category : Business & Economics
ISBN : STANFORD:36105064173763

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Economics of Contract Law by Douglas G. Baird Pdf

This important volume presents a rich collection of ideas on and insights into the law and economics of contracts. It includes material relevant to a large number of legal fields. Many of the articles are classics that have, over the years, become focal points for continuing debate; others provide an easily accessible account of particular areas. The editor's comprehensive introduction provides an overview of law and economics scholarship in contracts over the past few decades and a portal into an evolving field. Topics include: the economics of contracting; efficient breach and renegotiation; expectation damages and its alternatives; default rules and mass markets.

Author : Daniel J. Hauer
Publisher : Unknown
Page : 269 pages
File Size : 42,7 Mb
Release : 1911
Category : Contractors' operations
ISBN : OCLC:214298810

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The Economics of Contracting by Daniel J. Hauer Pdf

Author : Bernard Salanie
Publisher : MIT Press
Page : 257 pages
File Size : 51,6 Mb
Release : 2017-02-17
Category : Business & Economics
ISBN : 9780262534222

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The Economics of Contracts, second edition by Bernard Salanie Pdf

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

Author : Daniel Jacob Hauer
Publisher : Unknown
Page : 310 pages
File Size : 42,5 Mb
Release : 1911
Category : Contractors' operations
ISBN : UCAL:$B75994

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The Economics of Contracting by Daniel Jacob Hauer Pdf

Author : Gerrit de Geest
Publisher : Edward Elgar Publishing
Page : 497 pages
File Size : 51,7 Mb
Release : 2010-10
Category : Law
ISBN : 1849806640

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Contract Law and Economics by Gerrit de Geest Pdf

This unique and timely book offers an up-to-date, clear and comprehensive review of the economic literature on contract law. The topical chapters written by leading international scholars include: precontractual liability, misrepresentation, duress, gratuitous promises, gifts, standard form contracts, interpretation, contract remedies, penalty clauses, impracticability and foreseeability. Option contracts, warranties, long-term contracts, marriage contracts, franchise contracts, quasi-contracts, behavioral approaches, and civil contract law are also discussed. This excellent resource on contract law and economics will be particularly suited to contract law scholars, law teachers, policy makers, and judges. For experts in and practitioners of contract law this will be a key book to buy.

Author : Oliver E Williamson
Publisher : World Scientific
Page : 220 pages
File Size : 55,9 Mb
Release : 2017-03-24
Category : Business & Economics
ISBN : 9789813202078

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Contract, Governance and Transaction Cost Economics by Oliver E Williamson Pdf

This book brings together a collection of seven papers on Transaction Cost Economics by Nobel Laureate Professor Oliver E Williamson. The applications of Transaction Cost Economics are extensive, ranging from the field of industrial organization and applied fields of economics such as labor, public finance, comparative economic systems and economic development, to the business fields of strategy, organizational behavior, marketing, finance, operations management, and accounting. In short, as Williamson states, "any problem that originates as or can be reformulated as a contracting problem can be examined to advantage in transaction cost economizing terms." What is referred to as New Institutional Economics is developed in the West in two mainly complementary ways: Property Rights Theory, and Transaction Cost Economics. Of the two, Property Rights Theory developed more rapidly. Transaction Cost Economics has nonetheless taken shape of late. In China, research on New Institutional Economics began in the 1990s and has grown rapidly since. China has similarly given much more attention to Property Rights Theory. Gengxuan Chen, the editor of this volume, recommends that China will benefit by bringing Transaction Cost Economics to bear. Simultaneously, for scholars who study the market economy, Transaction Cost Economics provides a very attractive way to explain the practice of the Chinese market economy.

Author : Harvey S. James
Publisher : Unknown
Page : 222 pages
File Size : 45,8 Mb
Release : 2005
Category : Business & Economics
ISBN : IND:30000096447713

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New Ideas in Contracting and Organizational Economics Research by Harvey S. James Pdf

Research on contracting and organisational economics is progressing at a rapid pace. Nevertheless, what new ideas are needed in order to advance the frontiers of contracting and organisations research in ways that prove beneficial to society? This new book brings together scholars from around the world who have new ideas on the economics of contracts and organisations, otherwise known as transaction cost economics. The book is divided into three main sections. The first section presents ideas for improving the theoretical and empirical research in transaction cost economics. The second section shows how transaction cost economics informs on two important business issues -- corporate contracting and information technology (IT) operations. The third section presents alternative frameworks for examining contracting, organisational, and regulatory problems.

Author : Daniel J. Hauer
Publisher : Forgotten Books
Page : 304 pages
File Size : 47,9 Mb
Release : 2017-12-24
Category : Business & Economics
ISBN : 0484666592

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The Economics of Contracting, Vol. 1 by Daniel J. Hauer Pdf

Excerpt from The Economics of Contracting, Vol. 1: A Treatise for Contractors, Engineers, Superintendents and Foreman Engaged in Engineering Contracting Work Ore than twenty years ago, when the author started out in the engineering contracting field, much had been writ ten ou engineering subjects, but little on contracting. When questions were asked as to different phases of conducting a contract, the reply was, that all of these things must be learned by experience, and it was frequently stated that Contractors are born not made. Those were the days when contracting was considered purely a business, but within the past two decades the execution of con struction contracts has become so specialized that today it must be considered as a profession, requiring organized knowledge. A profession is the result of a study of its principles and his tory, using the experience of others as a basis for the student and beginner. It is with this idea in view that this treatise has been given to the profession. The older contractors may find in it some thoughts and ideas that may be useful, and this book may assist them in realizing that some wastes still exist in their own business, and a few details that have not been mastered. The young man should not expect to become an experienced contractor by a close study of this treatise, but he can learn to do some things, and how to guard against both loss of time and money in eliminating mistakes made by others. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.

Author : Anne Woodsworth,James F. Williams II
Publisher : Routledge
Page : 204 pages
File Size : 53,7 Mb
Release : 2018-10-26
Category : Social Science
ISBN : 9780429827778

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Managing the Economics of Owning, Leasing and Contracting Out Information Services by Anne Woodsworth,James F. Williams II Pdf

First published in 1993, the purpose of this book is to identify and describe the most important factors that must be considered in making decisions about the optimal ways to provide access to information – in short, the best way to use the humans, the machines, and the intangible resources known as information, particularly at the organizational level. In recent years executives have begun to outsource computing and telecommunications functions, primarily to control costs. Traditional libraries and information centres have been disbanded in favour of service contracts or outright leasing of staff. Both the public and private sectors are examining their information service operations from the point of view of cost effectiveness. Decisions about owning versus leasing of information are being made daily. Decision-makers are finding that they must deal differently with funding and budgeting of information systems and libraries from their earlier practice. New paradigms for these service functions already exist. Not only have corporations and governments begun to contract out entire information service operations, but libraries themselves have begun to consider the costs, effectiveness, and implications of outsourcing some of their operations and services. This book provides a framework for decision-makers to view and review information services within their organizations. Entire units, components of libraries and information centres are defined and untangled so that the widest variety of organizations can analyse their own environments. Each chapter is accompanied by comments from a broad range of experts in the information field.