The Value of Signals in Hidden Action Models: Concepts, Application, and Empirical Evidence

What happens if A wants to buy a good or service from B, but not all relevant characteristics can be fixed in a contract? This book gives a non-technical overview of various models dealing with this situation. Particular emphasis is put on the problem that the service includes various tasks and B is...

Ausführliche Beschreibung

Gespeichert in:
Bibliographische Detailangaben
1. Verfasser: Schnedler, Wendelin (VerfasserIn)
Format: Elektronisch E-Book
Sprache:English
Veröffentlicht: Heidelberg Physica-Verlag HD 2004
Ausgabe:1st ed. 2004
Schriftenreihe:Contributions to Economics
Schlagworte:
Online-Zugang:BTU01
Volltext
Zusammenfassung:What happens if A wants to buy a good or service from B, but not all relevant characteristics can be fixed in a contract? This book gives a non-technical overview of various models dealing with this situation. Particular emphasis is put on the problem that the service includes various tasks and B is paid by a performance measure (signal). As a result, B might choose the wrong allocation of effort between tasks. Of course, the wrong allocation entails costs. A method to calculate these costs is suggested and it is explored how and when these costs occur. Some performance measures seem to be less prone to misallocation such as measures of firm performance. Consequently, one expects more use of firm performance measures when misallocation can be a problem. This hypothesis is examined empirically
Beschreibung:1 Online-Ressource (VIII, 162 p)
ISBN:9783790827064
DOI:10.1007/978-3-7908-2706-4

Es ist kein Print-Exemplar vorhanden.

Fernleihe Bestellen Achtung: Nicht im THWS-Bestand! Volltext öffnen