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This book investigates situations in which incentives, contracts or other economic devices can be employed in a wide range of settings to prevent the pursuit of self-interest from being institutionally- or self-defeating. Campbell's treatment of these issues in the economics of information, mechanism design, and game theory can be followed by anyone with a basic knowledge of single-variable calculus and microeconomic theory. Readers learn to grasp economic principles by working carefully through examples, rather than by following proofs of general theorems.

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Incentive T-shirt comes in a relaxed shape that’s appliquéd with black lace embroidery detail. #MadeinRomania #FabricatinRomania 100% organic cotton 100% polyester lace Hand wash

Ample-sized chart makes it highly visible and perfect for all ages and activities in schools, club, offices and homes. Each horizontal incentive chart offers 36 rows and 45 columns. Sturdy, durable chart coordinates with Trend stickers. Chart set includes one each in red, yellow, white, blue, green, purple, orange and deep pink horizontal charts. Ideal for teaching students in fourth grade to twelfth grade (ages 8 to 99).

Ample-sized chart makes it highly visible and perfect for all ages and activities in schools, club, offices and homes. Each vertical incentive chart offers 50 rows and 30 columns. Sturdy, durable chart coordinates with Trend stickers. Chart set includes one each in red, yellow, white, blue, green, purple, orange and deep pink. Ideal for teaching students in fourth grade to twelfth grade (ages 8 to 99).

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.

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.

By James Kinkaid.Cloth with dust jacket, 8.5x11", 128 glossy pages, color photos throughout. 2019. "Features colorful box cars from nearly every small road operating them in the 1970s! Besides the hundreds of cars built new for this service, surprises abound. If the 1970s is your go-to era, you'll need this guide!"

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Laffont examines the incentive problems created by delegating economic policy to self-interested politicians and the blurry line between flexibility of decision-making and discretion to pursue personal agendas.

Laffont examines the incentive problems created by delegating economic policy to self-interested politicians and the blurry line between flexibility of decision-making and discretion to pursue personal agendas.

By James Kinkaid.Cloth with dust jacket, 8.5x11", 128 glossy pages, color photos throughout. 2019. "Features colorful box cars from nearly every small road operating them in the 1970s! Besides the hundreds of cars built new for this service, surprises abound. If the 1970s is your go-to era, you'll need this guide!"

This book examines methods for controlling or guiding a sector of the economy that do not require all the apparatus of economic planning or rely on the vain hope of sufficiently "perfect" competition, but instead rely entirely on the self-interest of economic agents and voluntary contract. The methods involved require trial-and-error steps in real time, with the target adjusted as the results of each step become known. The author shows that the methods are equally applicable to industries that are wholly privately owned, wholly nationalized, mixed or labor-managed.

Effective June 1, 1998, The MIT Press no longer distributes titles for the AEI Press. Orders for this book should be placed with: AEI Press c/o Publishers Resources, Inc. 1224 Heil Quaker Blvd. P.O. Box 7001 La Vergne, TN 37086-7001

Interest in intellectual property and other institutions that promote innovation exploded during the 1990s. Innovation and Incentives provides a clear and wide-ranging introduction to the economics of innovation, suitable for teaching at both the advanced undergraduate and graduate levels. It will also be useful to legal and economics professionals. Written by an expert on intellectual property and industrial organization, the book achieves a balanced mix of institutional details, examples, and theory. Analytical, empirical, or institutional factors can be given different emphases at different levels of study.Innovation and Incentives presents the historical, legal, and institutional contexts in which innovation takes place. After a historical overview of the institutions that support innovation, ranging from ancient history through today's government funding and hybrid institutions, the book discusses knowledge as a public good, the economic design of intellectual property, different models of cumulative innovation, the relation of competition to licensing and joint ventures, patent and copyright enforcement and litigation, private/public funding relationships, patent values and the return on R&D investment, intellectual property issues arising from direct and indirect network externalities, and globalization. The text presents technical and abstract analysis and at the same time sheds light on current controversies and policy-relevant topics, including the difficulty of enforcing copyright in the digital age and international protection of intellectual property.

Interest in intellectual property and other institutions that promote innovation exploded during the 1990s. Innovation and Incentives provides a clear and wide-ranging introduction to the economics of innovation, suitable for teaching at both the advanced undergraduate and graduate levels. It will also be useful to legal and economics professionals. Written by an expert on intellectual property and industrial organization, the book achieves a balanced mix of institutional details, examples, and theory. Analytical, empirical, or institutional factors can be given different emphases at different levels of study.Innovation and Incentives presents the historical, legal, and institutional contexts in which innovation takes place. After a historical overview of the institutions that support innovation, ranging from ancient history through today's government funding and hybrid institutions, the book discusses knowledge as a public good, the economic design of intellectual property, different models of cumulative innovation, the relation of competition to licensing and joint ventures, patent and copyright enforcement and litigation, private/public funding relationships, patent values and the return on R&D investment, intellectual property issues arising from direct and indirect network externalities, and globalization. The text presents technical and abstract analysis and at the same time sheds light on current controversies and policy-relevant topics, including the difficulty of enforcing copyright in the digital age and international protection of intellectual property.

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.

The essays in this volume document the serious shortcomings of the Hungarian economic reform, which in two decades has brought deteriorating economic performance, declining real wages, a fiscal deficit and severe inflationary pressures. It has proved unexpectedly difficult to substitute a regulated market economy for a centrally planned one. The authors of these essays argue that the problems stem from the incompleteness of the reforms and their compromise character. Today, as the Hungarians prepare to implement more radical measures, constraining the Communist party and rolling back state ownership, they do so under economically difficult conditions.

Every year the government gives away over $85 billion in economic incentives to businesses in the form of tax credits/deductions, grants, loans, and cash reimbursements.Ninety percent of these funds go to big businesses that can afford high-priced consultants and lawyers. With this guide, small to medium businesses owners now can learn how to capture these incentive dollars for themselves without having to take on the costs and complications of expensive consultants.