Book Description
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.
Customer Reviews:
Great Book.......2006-05-02
I had a project work. I was struggling with a P/A model in other books' examples. But this book is a gem. I got what I wanted in less than two days. I am an average student and the various models and extensions are very helpful in understanding the material.
I love the cover and the color combination also. I dont have it now. But will buy one. G-R-E-A-T Book.
Give it a try.
Master Piece from the Master.......2004-05-17
The book provides a systhesis of contract theory at the phd level. It begins with basic idea of adverse selection and then its extension and followed by basic moral hazard model and its extension. The selected topics are presented here in a consistent fashion of the main ideas. Applications are well presented along the models.
Nonverifiability, the mixed model of adverse selection and moral hazard and some dynamic aspects of the two are also incorporated in a great deal of details.
This is the text on incentive theory, not just introduction. Its comprehensive insights are useful and time-saving for readers. You need not to read a bulk of papers, after reading the book, you just complement it with some core papers of the topics. (such as multidimensional screening, random participation)
If there is some weakness, it would be that... the authors present some topics too short and some notation used are not well explained, particularly the extension of the core models and some selected topics.
Anyways, i found it helpful and complete for studying incentive theory but it requires deep understanding of optimization theory and some experience of economic-theorethic arguments.
This book is written by a major contributor of the field. It would be hard to write another book to compete with this one in the field. . .
excellent book.......2003-12-09
A very clear book on the topic of information theory; pretty much everything you need as a graduate student. Covers all topics in substantial detail but with models that capture only the effects that are relevant. A great buy.
Best book on the topic.......2003-07-10
This is a fabulous book, destined to become a classic reference summarizing some 30 years of research in a field that has now become mature and which has completely redefined and expanded the field of Modern Economics. Jean Jacques Laffont is a sure-bet future Nobel laureate for his contributions to the field (likely to be shared with that other Toulouse-based giant Jean Tirole). Martimort is a rising star in his own right.
This volume, the first in what is described as a two-volume survey, should be on the bookshelf of any serious economist or any graduate student trying to work her way through a serious first or second year microeconomic theory. It could also be used effectively to teach a first-year graduate or an advanced undergraduate course on asymmetric information and contracts.
What is so nice about the book pedagogically in my view is the way the authors have synthesized so many results by working with variants of simple models. It's the power of elegant simplicity. When looking at moral hazard for example, they start with the simplest two outcome, two action problem, with a risk-neutral principal and agent. Then they slowly and selectively complicate the same base model (e.g. adding a limited liability constraint, making the agent risk averse, allowing for more action levels and outcomes, adding more tasks, more agents, etc). Hence you get the essential insights without being overly burdened from the start with cumbersome notation. They have several nice graphical representations to accompany the very well written intuitive explanations. The end result is that you end up seeing with clarity how many results in the literature, that had previously seemed disparate, tie together very neatly and share a common mathematical structure.
The authors state in the introduction (which is a brilliant historical survey of ideas and the development of the field) that they plan a second volume on multi-agent contracts and mechanism design. It should also be fabulous and will hopefully help to popularize and democratize an area of economics that is packed with essential insights for understanding political economy and the behavior of groups, hiearchies and organizations, yet has mostly been left to mathematical economists.
There are other books out there like Macho-Stadler et al' "An Introduction to the Economics of Information: Incentives and Contracts" and Salanie's "The Economics of Contracts" which are targeted at a similar audience. These are quite good in their own right, but do not have the breadth and insight of this volume.
Fabulous!.......2002-02-04
This book is the best book I've ever met on principle-agency theory. The authors provide clear concept of incentive compatible scheme and detailed implications for each constraint. They successively clarified the trade-off effects related to adverse selection and moral hazard models. I'd like to recommend this book to whoever struggled with information economics as I did. I love the first chapter. It's alive.
Average customer rating:
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The Principal Agent Model: The Economic Theory of Incentives (The International Library of Critical Writings in Economics Series, 162)
Manufacturer: Edward Elgar Publishing
ProductGroup: Book
Binding: Hardcover
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ASIN: 1843762404 |
Book Description
Incentive theory is the most important development in economics in the last forty years. The principal-agent model is the core of this theory. This authoritative collection brings together the essential literature concerning the principal-agent model when no restrictions on the design of the principal's contract exist in terms of complexity, enforcement or rationality.
Part I covers the foundations of the principal-agent theory from the first historical formulation of the problem to the first attempts to formalize it. Part II deals with the case of moral hazard and adverse selection is the topic of Part III. Part IV presents contributions on current research issues such as the impact of communication constraints, endogenous information structures and multidimensional incentive problems.
The Principal Agent Model will be an indispensable reference source for all students, researchers and professionals specializing in this subject.
32 articles, dating from 1968 to 1999
Book Description
Thoroughly revised and updated, the second edition of the landmark book Discussion as a Way of Teaching shows how to plan, conduct, and assess classroom discussions. Stephen D. Brookfield and Stephen Preskill suggest exercises for starting discussions, strategies for maintaining their momentum, and ways to elicit diverse views and voices. The book also includes new exercises and material on the intersections between discussion and the encouragement of democracy in the classroom. This revised edition expands on the original and contains information on adapting discussion methods in online teaching, on using discussion to enhance democratic participation, and on the theoretical foundations for the discussion exercises described in the book.
Throughout the book,
Brookfield and Preskill clearly show how discussion can enliven classrooms, and they outline practical methods for ensuring that students will come to class prepared to discuss a topic. They also explain how to balance the voices of students and teachers, while still preserving the moral, political, and pedagogic integrity of discussion.
Customer Reviews:
Great guide for new teachers.......2005-03-19
I have been teaching for 10 years and have had lots of opportunity to put these techniques into practice. Many of the times discussions did not go well -- and the book describes why. Many times the discussions went well -- and the book describes why. In short, the book reflects the good and bad experiences I have had and so seems true to my experience. I wish I had a book of this sort when I was first starting out. Since discussion is encouraged today as it enables more action in class, but it can be very daunting encouraging students to get started and keep a discussion productive, fair, and equally engaging for all students. So a guide like this can be a great help. Some of the suggestions are very practical and easy to use and make a big difference in the class.
I am not a teacher.......2004-12-20
I am not a teacher, so I read this book looking for ways to better facilitate discussions/dialogues in democratic settings outside of the classroom. There are so many good ideas. My favorite is the Circle of Voices- 5 people stand in a circle, each speaking uninterrupted for 3 minutes. When you go back to the full group, you are only supposed to report the ideas of the others who were in your circle, so that everyone's opinion is heard, even if they are not a forceful speaker.
Very useful book!.......2004-11-03
I've been teaching at the college level for over ten years, and I'm always searching for new ideas to use in the classroom. When I ordered this book, I wasn't sure what to expect since the reviews were mixed; however, I was very pleased with this book.
The authors give some really useful and interesting ideas of different techniques and strategies that can be used to promote insightful, prolonged discussions. While I've run across some of the authors' suggestions before (such as using buzz groups or the jigsaw method), most of the suggestions were new and I can certainly see myself using most of the techniques in the classroom in the coming weeks. It is an expensive book, but worth it.
Lots of good ideas I could use.......2004-09-21
I've used discussion a lot over the years and often been frustrated by my students who seemed to be bored with it so I'm always on the look out for something that would help me. I had to read this book for a course I took and so was forced to check it out and I'd say it definitely helped. I liked that it was full of techniques and things for me to try and that it didn't just go into what to do in class but also spoke about how to set up discussions, get students ready for them etc. I can see now that a lot of what I tried before didn't work because my students weren't really ready for them. I'd say I've used about 50 % of the things I read about (some didn't really transfer for my classes) and mostly they worked pretty well. Along with getting students ready for discussion I liked the bits on making sure everyone has a chance to speak and on different types of questioning. The price is a bit high but if you're a teacher who uses discussion a lot and hasn't checked this out it's really worth looking at.
An Excellent Read.......2002-07-26
For people who want to become more effective in using discussion in teaching, especially with adults, this book is an excellent choice. It explains clearly and honestly the value and the limits of using discussion in teaching. From the opening chapter, in which dispositions of discussion are introduced, to chapters on preparing for discussion, sparking discussion, and keeping discussion going, the book remains engaging, practical, and genuinely helpful to those of us striving to become better facilitators of discussion.
Average customer rating:
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Reinventando El Trabajo
Tom Peters
Manufacturer: Nowtilus
ProductGroup: Book
Binding: Paperback
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ASIN: 8493252727 |
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Engineering Applications: A Project Resource Book
James Ritchie , and
Graham Simpson
Manufacturer: Butterworth-Heinemann
ProductGroup: Book
Binding: Paperback
Production & Operations
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ASIN: 0750625775 |
Book Description
All accredited engineering courses include Engineering Applications (EA) - the practical study through project work of the essentials of design, drafting, manufacturing and materials. This book provides students on HNC/D and the early years of degree courses with the information necessary to support the project work they must undertake to fulfil the EA part of their course. The book includes a Quick Reference Guide that will be of use throughout a career in engineering.
The purpose of this textbook is to introduce the student to the concept of EA, providing a grounding in the basics that will allow the reader to tackle EA projects. The text is complemented by a Tutor's Resource Pack, which provides a bank of photocopiable project specifications and a range of support materials including record sheets, charts and diagrams.
A practical, project-based approach to EA
A text, a project resource and a reference guide all in one
Project briefs provided in a photocopiable Tutor's Resource Pack
Average customer rating:
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Indiana in Perspective 2001: A Statistical View of the Hoosier State (Indiana in Perspective, 2001)
Manufacturer: Morgan Quitno Corporation
ProductGroup: Book
Binding: Paperback
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ASIN: 0740103636 |
Product Description
A Realistic HO Layout for Beginners, by Lou Sassi. Before the reader's eyes, this richly detailed HO layout takes shape Step by Step with the aid of instructional photography. Everything is here, from building the bench work to the excitement of operating the trains.
Average customer rating:
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Studies in Economic and Social History: Essays in Honour of Derek H. Aldcroft
Manufacturer: Ashgate Publishing
ProductGroup: Book
Binding: Hardcover
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ASIN: 0754603717 |
Book Description
This digital document is an article from Albion, published by North American Conference on British Studies on September 22, 2003. The length of the article is 1033 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.
Citation Details
Title: Studies in Economic and Social History: Essays in Honour of Derek H. Aldcroft.(Reviews of Books)(Book Review)
Author: J.M. Haas
Publication:
Albion (Refereed)
Date: September 22, 2003
Publisher: North American Conference on British Studies
Volume: 35
Issue: 3
Page: 529(3)
Article Type: Book Review
Distributed by Thomson Gale
Book Description
Selling in the information age requires the coordinated efforts of field reps, senior management, and an army of technical and product specialists.
In The Team Selling Solution, Steve Waterhouse draws upon his vast experience creating sales teams at AT&T, IBM, Xerox, Wyeth-Ayerst, and other industry leaders to provide a highly-accessible, prescriptive guide to creating, developing, troubleshooting, and leading powerful sales teams. Throughout, he enlivens the text with enlightening and entertaining vignettes from industries ranging from advertising to pharmaceuticals to semiconductors.
Customer Reviews:
Don't Buy.......2007-01-22
It pains me to say this but if the rating would have allowed it this publication would have got a "No Star" rating from me.
It fails miserably in my view to give any new or interesting thought and simply recurgitates old boring material. Worse still it implies that this is ground breaking because it's applied in the context of team selling.
A Baboon could have written this and the only creative writing comes in the marketing spin that has been used to hype this book!!
Great Book.......2006-01-11
Steve Waterhouse's ideas on team selling make great sense to me.
I have been working with sales people for 25 years and his simple to understand concepts will help any sales person or salesmanager manage the team selling process more effectively. A good read with plenty of good ideas!
The worst sales book I've ever read.........2005-12-05
I have been in sales for almost 30 years. I've managed very large teams in multiple areas across the country. This book offers no real techinique or inspiration. The only thing I am motivated to do after reading this is to write my own book!
Insightful!.......2004-04-30
Complex sales require teamwork. Salespeople can't do the job alone. A complicated, corporate sale may require the involvement of a team: engineers, researchers, financial experts and salespeople - after all, you are trying to build the level of trust necessary to win and keep a major customer. Many companies fail to adopt the right policies and procedures to form and maintain effective selling teams. They seem to leave it to the folks involved to figure out whether, why, when and how they should work together. Reliance on the spontaneous emergence of teamwork may be a typical approach, but it is hardly the most effective. In fact, managing sales teams is multi-faceted and challenging. The stakes are always high - failure will cost real money - and the personalities that have to come together are often incompatible. We recommend the detailed, practical framework this books offers for creating and leading sales teams. It is straightforward and down to earth. While it does not break startling new ground, it does assemble in one convenient package most of the tried-and-true principles and practices of team selling.
Insightful!.......2004-03-01
Complex sales require teamwork. Salespeople can't do the job alone. A complicated, corporate sale may require the involvement of a team: engineers, researchers, financial experts and salespeople - after all, you are trying to build the level of trust necessary to win and keep a major customer. Many companies fail to adopt the right policies and procedures to form and maintain effective selling teams. They seem to leave it to the folks involved to figure out whether, why, when and how they should work together. Reliance on the spontaneous emergence of teamwork may be a typical approach, but it is hardly the most effective. In fact, managing sales teams is multi-faceted and challenging. The stakes are always high - failure will cost real money - and the personalities that have to come together are often incompatible. We recommend this detailed, practical framework this books offers for creating and leading sales teams. It is straightforward and down to earth. While it does not break startling new ground, it does assemble in one convenient package most of the tried-and-true principles and practices of team selling.
Average customer rating:
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Insurance Directories: Florida (Red Book Kirchner's)
National Underwriter Company
Manufacturer: Natl Underwriter Co
ProductGroup: Book
Binding: Paperback
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ASIN: 0872185478 |
Book Description
This digital document is an article from National Underwriter Property & Casualty-Risk & Benefits Management, published by The National Underwriter Company on August 4, 1997. The length of the article is 784 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.
From the supplier: The Florida Department of Insurance has revamped its World Wide Web site by placing a great deal of information on it. There are insurance rate comparisons for the top 20 insurance companies for various kinds of insurance throughout the 67 counties within the state. Consumers can also review malpractice complaints against physicians.
Citation Details
Title: Florida department revamps Web site.(Department of Insurance, World Wide Web)
Author: Christine Jordan Sexton
Publication:
National Underwriter Property & Casualty-Risk & Benefits Management (Magazine/Journal)
Date: August 4, 1997
Publisher: The National Underwriter Company
Volume: v101
Issue: n31
Page: p5(2)
Distributed by Thomson Gale
Book Description
This digital document is an article from Florida Bar Journal, published by Thomson Gale on September 1, 2003. The length of the article is 3606 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.
Citation Details
Title: Workers' compensation law.(Florida State Bar licensed specialists)(Directory)
Publication:
Florida Bar Journal (Magazine/Journal)
Date: September 1, 2003
Publisher: Thomson Gale
Volume: 77
Issue: 8
Page: S38(3)
Article Type: Directory
Distributed by Thomson Gale
Book Description
This digital document is an article from Florida Bar Journal, published by Thomson Gale on September 1, 2005. The length of the article is 3662 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.
Citation Details
Title: Workers' compensation law: field established 1988.(Florida Bar 2005 Annual Directory Issue)(Directory)
Publication:
Florida Bar Journal (Magazine/Journal)
Date: September 1, 2005
Publisher: Thomson Gale
Volume: 79
Issue: 8
Page: S40(3)
Article Type: Directory
Distributed by Thomson Gale
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- Weiss Rating's Guide to Bond and Money Market Mutual Funds: Winter 2001-02 (Weiss Ratings' Guide to Bond and Money Market Mutual Funds)
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