Economic analysis of information and contracts essays in honor of John E. Butterworth

Cover of: Economic analysis of information and contracts |

Published by Kluwer Academic Publishers in Boston .

Written in English

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Subjects:

  • Butterworth, John E,
  • Accounting,
  • Information theory in economics

Edition Notes

Includes bibliographies and indexes.

Book details

Statementedited by Gerald A. Feltham, Amin H. Amershi, and William T. Ziemba.
ContributionsButterworth, John E., Feltham, Gerald A., 1938-, Amershi, Amin H., Ziemba, W. T.
Classifications
LC ClassificationsHF5625 .E28 1988
The Physical Object
Paginationxiv, 415 p. :
Number of Pages415
ID Numbers
Open LibraryOL2392989M
ISBN 100898382521
LC Control Number87022508

Download Economic analysis of information and contracts

Economic Analysis of Information and Contracts Essays in Honor of John E. Butterworth Editors: Feltham, Gerald A., Amershi, Amin H., Ziemba, William T. (Eds.). This book examines the main issues arising in economic analysis of contract law with special attention given to the incomplete contracts.

It discusses both the main features of contract law as they relate to the problem of economic exchange, and how the relevant legal rules and the institutions can be analysed from an economic : Hardcover.

Given the importance of contract theory in modern Economics, undoubtedely this is the first book to be read. Each chapter is full of examples and graphs that help to understand the mathematics underneath.

The reader is supposed to know Kuhn-Tucker theorem, so any advanced undergraduate student in economics should be able to read by: Economic Analysis of Information and Contracts Essays in Honor of John E.

Butterworth. Editors This book is an attempt to remember him. We dedicate the volume to John with thanks for the contributions he made to our research, to the Faculty of Commerce and Business Administration at the University of British Columbia, and to the accounting.

This book examines the main issues arising in economic analysis of contract law with special attention given to the incomplete contracts.

It discusses both the main features of contract law as they relate to the problem of economic exchange, and how the relevant legal rules and the institutions can be analysed from an economic : Palgrave Macmillan.

The Economics of Contracts-Theories and. Applications. This book draws partially from a spe cial issue of the Revue d'Eco the economic analysis of.

economics happened in information economics Information economics analyzes Consequences of informational asymmetries between actors Optimal design of contracts, institutions, etc.

to deal with them Examples: Insurance companies have imperfect information about the risk characteristics of their clients ⋆ Adverse selection ⋆ ScreeningFile Size: KB.

Economic Analysis. This book covers the following topics: Managerial Economics, Objectives Of The Business Firm, Fundamental Economic Concepts, Law Of Demand, Demand Elasticity, Demand Forecasting, Consumer Behaviour: Cardinal Analysis, Ordinal Analysis, Production Function, Economies Of Scale, Cost Concepts, Price Determination: Perfect Competition And.

Moral hazard with private information (ex ante contract acceptance) 4B. Applications 4B. Competition between insurance companies 4B An analysis of optimal licensing contracts 4B Regulation in asymmetric information contexts 4B Decision of monopoly product quality Exercises 4C.

Advanced Themes 4C. AN ECONOMIC THEORY OF CONTRACT “[T]he movement of the progressive societies has hitherto been a movement from Status to Contract.” Henry Maine, ANCIENT LAW () “Whoever offers to another a bargain of any kind, proposes to do this: Give me that which I want, and you shall have this which you want, is the meaning ofFile Size: KB.

This book examines the main issues arising in economic analysis of contract law with special attention given to the incomplete contracts. It discusses both the main features of contract law as they relate to the problem of economic exchange, and how the relevant legal rules and the institutions can be analysed from an economic perspective.

Contract law governs agreements between parties. This paper contains the chapters on contract law from a general, forthcoming book, Foundations of Economic Analysis of Law (Harvard University Press, ).

Chapter 13 presents an overview of the subject. Chapter 14 is concerned with contract formation, that is, Cited by: 9. • Bernard Salani´e, The Economics of Contracts: A Primer, MIT Press, • In´es Macho-Stadler and J.

David P´erez-Castrillo, An Introduction to the Economics of Information: In-centives and Contracts, Oxford University Press, Bolton and Dewatripont’s book is available in the University Bookstore and all of the above books are also.

NBER Program (s): Law and Economics Contract law governs agreements between parties. This paper contains the chapters on contract law from a general, forthcoming book, Foundations of Economic Analysis of Law (Harvard University Press, ).

Chapter 13 presents an overview of the by: 9. ABSTRACT Contract law governs agreements between parties. This paper contains the chapters on contract law from a general, forthcoming book, Foundations of Economic Analysis of Law(Harvard University Press, ). Chapter 13 presents an overview of the subject.

Introduction to Economic Analysis Version by R. Preston McAfee J. Stanley Johnson Professor of Business, Economics & Management California Institute of Technology Begun: J This Draft: Novem This book presents introductory economics (“principles”) material using standard mathematical tools, including Size: 2MB.

This is a graduate textbook on the theory of contracting under asymmetric information, a key part of modern microeconomic theory. It examines the characteristics of optimal contracts when one party has certain relevant knowledge that the other party does not/5(10).

Updated in its Seventh Edition, ECONOMIC ANALYSIS OF LAW is the preeminent work in its field, covering the legal-economic perspective on. COVID Resources. Reliable information about the coronavirus (COVID) is available from the World Health Organization (current situation, international travel).Numerous and frequently-updated resource results are available from this ’s WebJunction has pulled together information and resources to assist library staff as they consider how to.

concepts in the economic analysis of contracts, the notion of the “ hybrid form ” proposed by Williamson (), drew directly on Macneil ’ s () socio-legal analysis. This text provides an invaluable introduction to the mathematical tools that undergraduate economists need.

The coverage is comprehensive, ranging from elementary algebra to more advanced material, whilst focusing on all the core topics that are usually taught in undergraduate courses on mathematics for economists.4/5(1).

In this revised second edition, An Introduction to the Economics of Information covers the consequences for the character and efficiency of the interaction between individuals and organizations when one party has more or better information on some aspect of the relationship.

This is the condition of asymmetric information, under which the information gap will be. Economic Analysis of the Digital Economy explores the economic impact of digitization, with each chapter identifying a promising new area of research.

The Internet is one of the key drivers of growth in digital communication, and the first set of chapters discusses basic supply-and-demand factors related to access. The main aims of this course are: to present an analysis, using the approach and techniques of modern economics, of the co-ordination and motivation problems that arise due to increasing specialization, and the potential solutions to these problems in the form of various types of contracts and.

Modern economic analysis of contract law began about 30 years ago and, many scholars would agree, has become the dominant academic style of contract theory. Traditional doctrinal analysis exerts less influence than it did prior toand enjoys.

THE ECONOMIC ANALYSIS OF CONTRACT LAW A. Premises and Basic Results The economic analysis of contract law is too familiar to warrant an extended discussion; there are also several excellent surveys. 5 Fundamental assumptions, common to nearly all efforts at economic analysis, are that.

Economic analysis is marginal analysis. In marginal analysis, one examines the consequences of adding to or subtracting from the current state of affairs. Consider, for example, an employer's decision to hire a new worker.

The employer must determine the marginal benefit of hiring the additional worker as well as the marginal cost. The economics of information is possibly the area of economic theory that has evolved most over the past fifteen years.

Developed in parallel with the new economics of Industrial Organization, its importance and applications have grown spectacularly.

Its objective is to study the situations in which agents attempt to overcome their ignorance about some relevant information. insurance contracts, all of which at least broke even, such that there did not exist another insurance contract which, if offered, would make a profit.

Since. INFORMATION AND ECONOMIC ANALYSIS: A PERSPECTIVE 25 then, there have been several attempts to find alternative equilibrium. Economic Analysis of Contract Law The empirical investigations by the economists and legal economists came to the conclusion that resort to legal remedies by the parties to the contract is minimal due to heavy litigation costs or due to the reputation of a person in the trading community.

In economics, contract theory studies how economic actors can and do construct contractual arrangements, generally in the presence of asymmetric information.

Because of its connections with both agency and incentives, contract theory is often categorized within a field known as Law and economics. Freedom of contract is a principle of law, expressing three related ideas: parties should be free to choose their contracting partners (‘party freedom’), to agree freely on the terms of their agreement (‘term freedom’) and where agreements have been freely made, parties should be held to their bargains (‘sanctity of contract’).Cited by: 1.

• Work on information economics helped develop understanding of these issues A key issue in contract enforcement is verifiability, and thus relates to information • Results had greater applicability: economics of knowledge (a particular form of information, at the center of the theory of innovation) Books shelved as information-economics: The Double Auction Market: Institutions, Theories, And Evidence by Dan Friedman, The Theory of Incentives: The Pr.

The Economics Analysis Guidebook discusses the following topics, which are summarized below: • Federal and State Economic Analysis Guidelines • Economic Analysis Methods • Ecosystem Valuation Methods • Economic Analysis Models • Economic Analysis and the Federal Planning Process • Financial AnalysisFile Size: KB.

Law and economics or economic analysis of law is the application of economic theory (specifically microeconomic theory) to the analysis of law that began mostly with scholars from the Chicago school of ic concepts are used to explain the effects of laws, to assess which legal rules are economically efficient, and to predict which legal rules will be.

book.4 The reader who finds this section too abstract can skip it with­ out losing the thread of the chapter. The object of mechanism design theory is to explore the means of implementing a given allocation of available resources when the rel­ evant information is dispersed in the economy.

Take, for instance, a. Economic analysis, on the other hand, is incomplete if it does not take environmental impacts into account. Chapter 7 deals with the broad subject of “externalities,” and in particular with the techniques for measuring the value of environmental impacts so that they can be taken into account in the economic analysis of projects.

This book deals with some topics and tools Chapter 2 is dedicated for the contract strategy. The planning stages of a construction project are presented in chapter 3.

Chapter 4 is dedicated for Growth in this industry in fact is an indicator of the economic conditions of a country.

This is because the construction industry consumes a wideFile Size: KB. broader economic activity across a series of economic agents. Such broad impact is far greater than these businesses’ own size: in Facebook – a company with an approximately $8bn cost base – enabled global economic impact of $bn.

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Different names have been used r the WNPfo -2 plant in different contexts, we have and.LAW AND CONTEMPORARY PROBLEMS choice of topics reflects the balance of topics in the literature.2 It is a popular choice because the bargain that establishes the contract is multidimensional; it is haunted by the specter of unforeseen contingencies that Author: Michael J.

Meurer.

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