The Value of Signals in Hidden Action Models PDF
By:Wendelin Schnedler
Published on 2004-02-09 by Springer Science & Business Media
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.
This Book was ranked at 31 by Google Books for keyword relationship actions.
Book ID of The Value of Signals in Hidden Action Models's Books is CF5SAFOAuVkC, Book which was written byWendelin Schnedlerhave ETAG "XfsZCcsfFVQ"
Book which was published by Springer Science & Business Media since 2004-02-09 have ISBNs, ISBN 13 Code is 9783790801736 and ISBN 10 Code is 3790801739
Reading Mode in Text Status is false and Reading Mode in Image Status is true
Book which have "162 Pages" is Printed at BOOK under CategoryBusiness and Economics
Book was written in en
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