Contract Theory

Business & Finance, Economics, Microeconomics
Cover of the book Contract Theory by Patrick Bolton, Mathias Dewatripont, The MIT Press
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: Patrick Bolton, Mathias Dewatripont ISBN: 9780262257961
Publisher: The MIT Press Publication: December 10, 2004
Imprint: The MIT Press Language: English
Author: Patrick Bolton, Mathias Dewatripont
ISBN: 9780262257961
Publisher: The MIT Press
Publication: December 10, 2004
Imprint: The MIT Press
Language: English

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.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

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.

More books from The MIT Press

Cover of the book Free Innovation by Patrick Bolton, Mathias Dewatripont
Cover of the book Comparative Environmental Politics by Patrick Bolton, Mathias Dewatripont
Cover of the book What We Know About Climate Change by Patrick Bolton, Mathias Dewatripont
Cover of the book For Fun and Profit by Patrick Bolton, Mathias Dewatripont
Cover of the book GMOs Decoded by Patrick Bolton, Mathias Dewatripont
Cover of the book Philosophical Provocations by Patrick Bolton, Mathias Dewatripont
Cover of the book The Economics and Political Economy of Energy Subsidies by Patrick Bolton, Mathias Dewatripont
Cover of the book Wired for Innovation by Patrick Bolton, Mathias Dewatripont
Cover of the book Advice for a Young Investigator by Patrick Bolton, Mathias Dewatripont
Cover of the book The Scientific Attitude by Patrick Bolton, Mathias Dewatripont
Cover of the book The Inversion Factor by Patrick Bolton, Mathias Dewatripont
Cover of the book Principles of Commodity Economics and Finance by Patrick Bolton, Mathias Dewatripont
Cover of the book The Craft of Economics by Patrick Bolton, Mathias Dewatripont
Cover of the book Vision by Patrick Bolton, Mathias Dewatripont
Cover of the book Participatory Politics by Patrick Bolton, Mathias Dewatripont
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy