The Economics of Contracts: A Primer, 2nd Edition

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9780262195256: The Economics of Contracts: A Primer, 2nd Edition

The theory of contracts grew out of the failure of the general equilibrium model to account for the strategic interactions among agents that arise from informational asymmetries. This popular text, revised and updated throughout for the second edition, serves as a concise and rigorous introduction to the theory of contracts for graduate students and professional economists. The book presents the main models of the theory of contracts, particularly the basic models of adverse selection, signaling, and moral hazard. It emphasizes the methods used to analyze the models, but also includes brief introductions to many of the applications in different fields of economics. The goal is to give readers the tools to understand the basic models and create their own.For the second edition, major changes have been made to chapter 3, on examples and extensions for the adverse selection model, which now includes more thorough discussions of multiprincipals, collusion, and multidimensional adverse selection, and to chapter 5, on moral hazard, with the limited liability model, career concerns, and common agency added to its topics. Two chapters have been completely rewritten: chapter 7, on the theory of incomplete contracts, and chapter 8, on the empirical literature in the theory of contracts. An appendix presents concepts of noncooperative game theory to supplement chapters 4 and 6. Exercises follow chapters 2 through 5.Praise for the previous edition:"The Economics of Contracts offers an excellent introduction to agency models. Written by one of the leading young researchers in contact theory, it is rigorous, clear, concise, and up-to-date. Researchers and students who want to learn about the economics of incentives will want to read this primer." -- Jean Tirole, Institut D'Economie Industrielle, Universite des Sciences Sociales, France"Students will find this a very useful introduction to the ideas of contract theory. Salanie has managed to summarize a large amount of material in a relatively short number of pages in a highly accessible and readable manner." -- Oliver Hart, Professor of Economics, Harvard University

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Review:

"Salanie provides a broad overview of the economics of contracts. Concision and clarity make the book an elegant introduction to the subject for newcomers. But it is also a useful reference for experienced students and researchers."--Roger Guesnerie, College de France "Salanie has written an elegant book, concise in its explanations and tightly focused on the most useful models and results of contract theory. His experience in both theory building and theory testing are plain to see in his sure-handed choices, which separate the chaff from the wheat in this huge and growing body of theory. I recommend this book highly to students and newcomers to the economic theory of contracts."--Paul Milgrom, Professor of Economics, Stanford University "The first edition of Salanie's book provided an insightful introduction to the modern economics of incentives and contracts. This second edition keeps up with recent advances while maintaining the emphasis on key ideas and intuitions. A great read."--Patrick Rey, IDEI, University of Toulouse

About the Author:

Bernard Salanie is Research Fellow of LEI (CREST) in Paris, Professor at Ecole Polytechnique, and Managing Editor of the Review of Economic Studies. His books include The Microeconomics of Market Failures (2000) and The Economics of Taxation (2003), both published by The MIT Press.

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Bernard Salanie
Editore: MIT Press Ltd, United States (2005)
ISBN 10: 0262195259 ISBN 13: 9780262195256
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Descrizione libro MIT Press Ltd, United States, 2005. Hardback. Condizione libro: New. 2nd Revised edition. Language: English . Brand New Book. The theory of contracts grew out of the failure of the general equilibrium model to account for the strategic interactions among agents that arise from informational asymmetries. This popular text, revised and updated throughout for the second edition, serves as a concise and rigorous introduction to the theory of contracts for graduate students and professional economists. The book presents the main models of the theory of contracts, particularly the basic models of adverse selection, signaling, and moral hazard. It emphasizes the methods used to analyze the models, but also includes brief introductions to many of the applications in different fields of economics. The goal is to give readers the tools to understand the basic models and create their own. For the second edition, major changes have been made to chapter 3, on examples and extensions for the adverse selection model, which now includes more thorough discussions of multiprincipals, collusion, and multidimensional adverse selection, and to chapter 5, on moral hazard, with the limited liability model, career concerns, and common agency added to its topics.Two chapters have been completely rewritten: chapter 7, on the theory of incomplete contracts, and chapter 8, on the empirical literature in the theory of contracts. An appendix presents concepts of noncooperative game theory to supplement chapters 4 and 6. Exercises follow chapters 2 through 5. Praise for the previous edition: The Economics of Contracts offers an excellent introduction to agency models. Written by one of the leading young researchers in contact theory, it is rigorous, clear, concise, and up-to-date. Researchers and students who want to learn about the economics of incentives will want to read this primer. -- Jean Tirole, Institut D Economie Industrielle, Universite des Sciences Sociales, France Students will find this a very useful introduction to the ideas of contract theory. Salanie has managed to summarize a large amount of material in a relatively short number of pages in a highly accessible and readable manner. -- Oliver Hart, Professor of Economics, Harvard University. Codice libro della libreria AAH9780262195256

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Descrizione libro MIT Press Ltd. Hardback. Condizione libro: new. BRAND NEW, The Economics of Contracts: A Primer (2nd Revised edition), Bernard Salanie, The theory of contracts grew out of the failure of the general equilibrium model to account for the strategic interactions among agents that arise from informational asymmetries. This popular text, revised and updated throughout for the second edition, serves as a concise and rigorous introduction to the theory of contracts for graduate students and professional economists. The book presents the main models of the theory of contracts, particularly the basic models of adverse selection, signaling, and moral hazard. It emphasizes the methods used to analyze the models, but also includes brief introductions to many of the applications in different fields of economics. The goal is to give readers the tools to understand the basic models and create their own. For the second edition, major changes have been made to chapter 3, on examples and extensions for the adverse selection model, which now includes more thorough discussions of multiprincipals, collusion, and multidimensional adverse selection, and to chapter 5, on moral hazard, with the limited liability model, career concerns, and common agency added to its topics. Two chapters have been completely rewritten: chapter 7, on the theory of incomplete contracts, and chapter 8, on the empirical literature in the theory of contracts. An appendix presents concepts of noncooperative game theory to supplement chapters 4 and 6. Exercises follow chapters 2 through 5. Praise for the previous edition: "The Economics of Contracts offers an excellent introduction to agency models. Written by one of the leading young researchers in contact theory, it is rigorous, clear, concise, and up-to-date. Researchers and students who want to learn about the economics of incentives will want to read this primer." -- Jean Tirole, Institut D'Economie Industrielle, Universite des Sciences Sociales, France "Students will find this a very useful introduction to the ideas of contract theory. Salanie has managed to summarize a large amount of material in a relatively short number of pages in a highly accessible and readable manner." -- Oliver Hart, Professor of Economics, Harvard University. Codice libro della libreria B9780262195256

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Descrizione libro MIT Press, 2005. HRD. Condizione libro: New. New Book. Shipped from UK in 4 to 14 days. Established seller since 2000. Codice libro della libreria WM-9780262195256

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Bernard Salanie
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Descrizione libro MIT Press Ltd, United States, 2005. Hardback. Condizione libro: New. second edition. Language: English . Brand New Book. The theory of contracts grew out of the failure of the general equilibrium model to account for the strategic interactions among agents that arise from informational asymmetries. This popular text, revised and updated throughout for the second edition, serves as a concise and rigorous introduction to the theory of contracts for graduate students and professional economists. The book presents the main models of the theory of contracts, particularly the basic models of adverse selection, signaling, and moral hazard. It emphasizes the methods used to analyze the models, but also includes brief introductions to many of the applications in different fields of economics. The goal is to give readers the tools to understand the basic models and create their own.For the second edition, major changes have been made to chapter 3, on examples and extensions for the adverse selection model, which now includes more thorough discussions of multiprincipals, collusion, and multidimensional adverse selection, and to chapter 5, on moral hazard, with the limited liability model, career concerns, and common agency added to its topics. Two chapters have been completely rewritten: chapter 7, on the theory of incomplete contracts, and chapter 8, on the empirical literature in the theory of contracts. An appendix presents concepts of noncooperative game theory to supplement chapters 4 and 6. Exercises follow chapters 2 through 5.Praise for the previous edition: The Economics of Contracts offers an excellent introduction to agency models. Written by one of the leading young researchers in contact theory, it is rigorous, clear, concise, and up-to-date. Researchers and students who want to learn about the economics of incentives will want to read this primer. -- Jean Tirole, Institut D Economie Industrielle, Universite des Sciences Sociales, France Students will find this a very useful introduction to the ideas of contract theory. Salanie has managed to summarize a large amount of material in a relatively short number of pages in a highly accessible and readable manner. -- Oliver Hart, Professor of Economics, Harvard University. Codice libro della libreria AAH9780262195256

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Descrizione libro Hardcover. Condizione libro: New. 2nd. Hardcover. The theory of contracts grew out of the failure of the general equilibrium model to account for the strategic interactions among agents that arise from informational asymmetries. This popu.Shipping may be from multiple locations in the US or from the UK, depending on stock availability. 244 pages. 0.503. Codice libro della libreria 9780262195256

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Descrizione libro 2005. Hardback. Condizione libro: NEW. 9780262195256 This listing is a new book, a title currently in-print which we order directly and immediately from the publisher. Codice libro della libreria HTANDREE01141666

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Descrizione libro Mit Pr, 2005. Hardcover. Condizione libro: Brand New. 2nd edition. 244 pages. 9.25x6.20x0.25 inches. In Stock. Codice libro della libreria __0262195259

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Descrizione libro The MIT Press, 2005. Hardcover. Condizione libro: New. second edition. Codice libro della libreria DADAX0262195259

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Descrizione libro The MIT Press, 2005. Hardcover. Condizione libro: New. book. Codice libro della libreria 0262195259

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Descrizione libro Condizione libro: New. Depending on your location, this item may ship from the US or UK. Codice libro della libreria 97802621952560000000

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