Motivation and the Economics of Information

Author: Donald E. Campbell

Publisher: Cambridge University Press

ISBN: 1108546854

Category: Business & Economics

Page: N.A

View: 2470

When incentives work well, individuals prosper. When incentives are poor, the pursuit of self-interest is self-defeating. This book is wholly devoted to the topical subject of incentives from individual, collective, and institutional standpoints. This third edition is fully updated and expanded, including a new section on the 2007–08 financial crisis and a new chapter on networks as well as specific applications of school placement for students, search engine ad auctions, pollution permits, and more. Using worked examples and lucid general theory in its analysis, and seasoned with references to current and past events, Incentives: Motivation and the Economics of Information examines: the performance of agents hired to carry out specific tasks, from taxi drivers to CEOs; the performance of institutions, from voting schemes to medical panels deciding who gets kidney transplants; a wide range of market transactions, from auctions to labor markets to the entire economy. Suitable for advanced undergraduate and graduate students studying incentives as part of courses in microeconomics, economic theory, managerial economics, political economy, and related areas of social science.
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Scientific Method and Radical Imagination

Author: David Laibman

Publisher: Routledge

ISBN: 113666422X

Category: Business & Economics

Page: 192

View: 4065

This re-incorporation of economics into political economy is one (small, but not insignificant) element in a larger project: to place all of the resources of present-day social-scientific research at the service of increasing democracy, in an ultimate direction toward socialism in the classic sense. An economics-enriched political economy is, above all, empowering: working people in general can calculate, build models, think theoretically, and contribute to a human-worthy future, rather than leaving all this to their "betters."
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An Integrated Approach

Author: E. Roy Weintraub

Publisher: Cambridge University Press

ISBN: 9780521287692

Category: Business & Economics

Page: 180

View: 2711

As one's understanding of functions, relationships, and variables becomes richer and more detailed, one's ability to provide explanations for economic phenomena becomes stronger and more sophisticated. Here, the author encourages the student's geometric intuition of the mathematical results.
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Author: Eva Rosenkranz

Publisher: GRIN Verlag

ISBN: 3638710041


Page: 52

View: 1532

Bachelor Thesis from the year 2005 in the subject Business economics - General, grade: 1.3, Otto-von-Guericke-University Magdeburg, 52 entries in the bibliography, language: English, abstract: This paper is concerned with an economic analysis of Frey's Motivation Crowding-Out Theory, which states that monetary rewards crowd-out intrinsic motivation. Crowding-out effects, conditions as well as implications for economics will be examined in detail by analyzing the highly controversial psychological and economic, mainly human resource, literature. Throughout the paper, the question whether crowding-out effects are of relevance to classical economic theory will be looked at from different point of views. Finally, a conclusion suggests that at this state of information an integration of the concept of crowding-out is not recommendable.
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Author: Professor Philip Hanson,P. Hanson,K. Pavitt

Publisher: Taylor & Francis

ISBN: 1136471731

Category: Business & Economics

Page: 112

View: 6854

A systematic comparison of the institutions and incentive systems governing the processes of technological invention, innovation and diffusion in advanced market and centrally planned economies.
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An Essay in Utopian Politico-Economic Theory

Author: Joseph H. Carens

Publisher: Joseph H. Carens

ISBN: 0226092690

Category: Philosophy

Page: 252

View: 3025

The book argues that by relying on moral incentives it is possible, in principle, to separate the organizational advantages of the market from its distributional disadvantages. In theory, we can imagine a politico-economic system that distributes income equally (or on some other principle) but has all the efficiency characteristics of a capitalist market system. This shows that the market can provide an institutional mechanism for realizing ideals of distributive justice. The book provides a theoretical model of the system, identifying its requirements. It then offers arguments from empirical social science about why the model should work under appropriate conditions.
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A Research Study Supported by Wik

Author: Michael A. Crew,Paul R. Kleindorfer

Publisher: Springer Science & Business Media

ISBN: 9780792392743

Category: Business & Economics

Page: 162

View: 2740

Postal service has received considerably less attention in the economics literature than traditional public utilities. Postal service is facing some very important challenges arising out of the increasingly high-tech nature of postal service, the entry of competition into the business, and new attitudes on the part of government to postal service. In the United Kingdom and Germany the increased interest in privatization and recognition of the benefits of competition are likely to have an impact on postal service. These challenges mean that postal managers must learn new ways of doing business, not just in successfully introducing new hardware and in new internal operating procedures, but also in the development of new pricing and costing methodologies and in the introduction of new management information systems. In order to deal with these new developments managers need a solid foundation in applied microeconomic theory as it relates to postal service. This book encompasses the theoretical foundation for postal policy, particularly with regard to pricing, service quality, and competitive issues.
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Author: Alan Lewis

Publisher: Cambridge University Press

ISBN: 9781139469760

Category: Psychology

Page: N.A

View: 6382

Psychologists have been observing and interpreting economic behaviour for at least fifty years, and the last decade, in particular, has seen an escalated interest in the interface between psychology and economics. The Cambridge Handbook of Psychology and Economic Behaviour is a valuable reference resource dedicated to improving our understanding of the economic mind and economic behaviour. Employing empirical methods – including laboratory experiments, field experiments, observations, questionnaires and interviews – the Handbook covers aspects of theory and method, financial and consumer behaviour, the environment and biological perspectives. With contributions from distinguished scholars from a variety of countries and backgrounds, the Handbook is an important step forward in the improvement of communications between the disciplines of psychology and economics. It will appeal to academic researchers and graduates in economic psychology and behavioural economics.
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Essays in Honour of Sir Partha Dasgupta

Author: Scott Barrett,Karl-Göran Mäler,Eric S. Maskin,Eric Maskin

Publisher: Oxford University Press

ISBN: 0199677859

Category: Business & Economics

Page: 384

View: 4395

This book honours Partha Dasgupta, and the field he helped establish; environment and development economics. It concerns the relationship between social systems and natural systems. Above all, it concerns the poverty-environment nexus: the complex pathways by which people become or remain poor, and resources become or remain overexploited.
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Was Sie wirklich motiviert

Author: Daniel H. Pink

Publisher: Ecowin

ISBN: 3711050786

Category: Political Science

Page: 284

View: 2357

Sind wir nicht alle davon überzeugt, dass wir am besten mit äußeren Anreizen wie Geld und Prestige oder durch "Zuckerbrot und Peitsche" zu motivieren sind? "Alles falsch", sagt Daniel H. Pink in seinem provokanten und zukunftsweisenden Buch. Das Geheimnis unseres persönlichen Erfolges ist das zutiefst menschliche Bedürfnis, unser Leben selbst zu bestimmen, zu lernen, Neues zu erschaffen und damit unsere Lebensqualität und unsere Welt zu verbessern. Daniel H. Pink enthüllt die Widersprüche zwischen dem, was die Wissenschaft weiß, und dem, was die Wirtschaft tut – und wie genau dies jeden Aspekt unseres Lebens beeinflusst. Er demonstriert, dass das Prinzip von Bestrafung und Belohnung exakt der falsche Weg ist, um Menschen für die Herausforderungen von Heute zu motivieren, egal ob in Beruf oder Privatleben. In "Drive" untersucht er die drei Elemente der wirklichen Motivation – Selbstbestimmung, Perfektionierung und Sinnerfüllung – und bietet kluge sowie überraschende Techniken an, um diese in die Tat umzusetzen. Daniel H. Pink stellt uns Menschen vor, die diese neuen Ansätze zur Motivation bereits erfolgreich in ihr Leben integriert haben und uns damit entschlossen einen außergewöhnlichen Weg in die Zukunft zeigen.
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A Strategic Guide to Understanding and Designing the Online Marketplace

Author: Nir Vulkan

Publisher: Princeton University Press

ISBN: 9780691089065

Category: Business & Economics

Page: 218

View: 1363

Only business models based on sound economic propositions will survive. This book provides professionals, investors, and MBA students the tools they need to evaluate the wide range of actual and potential e-commerce businesses at the microeconomic level. It demonstrates how these tools can be used to assess a variety of existing applications.
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Author: Adel Ben Youssef

Publisher: Editorial UOC

ISBN: 8497887433

Category: Business & Economics

Page: 224

View: 9854

The economics of e-learning was identified as a key priority for virtual campuses in the consultation workshop held in Brussels on 2004. This special issue shows the theoretical framework defined and some of the results obtained within the project, funded by the European Commission.
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Author: Jens Forssbaeck,Lars Oxelheim

Publisher: Oxford University Press

ISBN: 0199394830

Category: Political Science

Page: 624

View: 7437

In recent years, the term 'transparency' has emerged as one of the most popular and keenly-touted concepts around. In the economic-political debate, the principle of transparency is often advocated as a prerequisite for accountability, legitimacy, policy efficiency, and good governance, as well as a universal remedy against corruption, corporate and political scandals, financial crises, and a host of other problems. But transparency is more than a mere catch-phrase. Increased transparency is a bearing ideal behind regulatory reform in many areas, including financial reporting and banking regulation. Individual governments as well as multilateral bodies have launched broad-based initiatives to enhance transparency in both economic and other policy domains. Parallel to these developments, the concept of transparency has seeped its way into academic research in a wide range of social science disciplines, including the economic sciences. This increased importance of transparency in economics and business studies has called for a reference work that surveys existing research on transparency and explores its meaning and significance in different areas. The Oxford Handbook of Economic and Institutional Transparency is such a reference. Comprised of authoritative yet accessible contributions by leading scholars, this Handbook addresses questions such as: What is transparency? What is the rationale for transparency? What are the determinants and the effects of transparency? And is transparency always beneficial, or can it also be detrimental (if so, when)? The chapters are presented in three sections that correspond to three broad themes. The first section addresses transparency in different areas of economic policy. The second section covers institutional transparency and explores the role of transparency in market integration and regulation. Finally, the third section focuses on corporate transparency. Taken together, this volume offers an up-to-date account of existing work on and approaches to transparency in economic research, discusses open questions, and provides guidance for future research, all from a blend of disciplinary perspectives.
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Performance Appraisal and Incentive Systems for Business Success

Author: H. Kressler

Publisher: Springer

ISBN: 1403937710

Category: Business & Economics

Page: 164

View: 4911

Motivation, ability and potential for development are crucial for performance and the achievement of objectives. The author, from his extensive management experience at Unilever, the leading multinational corporation, demonstrates the importance of the link between motivation, assessment of performance and potential, and reward and incentive strategies. It is only by getting this relationship right that the company can achieve business success.
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The Principal-Agent Model

Author: Jean-Jacques Laffont,David Martimort

Publisher: Princeton University Press

ISBN: 9781400829453

Category: Business & Economics

Page: 440

View: 5054

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.
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Performance Evaluation

Author: Peter Ove Christensen,Gerald Feltham

Publisher: Springer Science & Business Media

ISBN: 9780387265971

Category: Business & Economics

Page: 664

View: 9770

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 is not a survey of the literature, but provides a succinct source for learning the fundamentals of the economics of incentives. While there is an emphasis on information issues of interest to accounting researchers, it is also relevant to researchers in economics, finance, management science,...
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Author: Steffen Hetzel


ISBN: 3842819331

Category: Business & Economics

Page: 80

View: 2472

Inhaltsangabe:Introduction: Many jobs are today paid via performance-based payment or at least have a component including financial payments based on individual performance. Especially, as ones performance is comparably easy to investigate, financial incentives dependent on visible achievements seem useful and practicable and in consequence are multiply used in today s society. This means, that numerous employees, especially at a particular level (Managers) or with a substantial part of identifiable success (Sales, Consulting) are rewarded for their effort based on observed measures of performance. The intention behind performance-based compensation is to stimulate individuals to increase their motivation and effort spent on tasks, and hence their output, or in other words, profitability for the company. By using this way of payment, special incentives are placed and a change in one s behavior is intended to be reached for receiving the maximum possible outcome for the company. On the other hand, the usage and effectiveness of financial incentives is not always seen as a positive instrument at all. The application of those tools and resulting behavior changes are seen as one of the major reasons for the financial crisis beginning in 2007. Wrong incentive setting for the employees and hereby misleading behavior of the staff yielded to specific behavior which lead to a fundamental crash of the world economy and threw the world into a global recession. After those incidents, the mode of functioning of financial incentives and the most favorable usage of this motivation instruments came forcefully to the spotlight. Especially, comparably high bonus payments for bankers were in consequence of billions paid by governments for bank rescue and avoiding a collapse of the global financial system publicly discussed. The existing and fundamentally logical point of view on incentives is that incentive payments lead to increased motivation which resulted in higher performance of an individual. Furthermore, a positive correlation between incentives and performance is supposed to exist. This means, the higher incentives are, consequently the higher the motivation for conducting a task and followed by this the performance on a task can be expected to be. The need of designing optimal contracts has always been a challenge, not only for companies. Economical research is delivering tools for understanding and minimizing problems arising through incomplete [...]
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