Determinants of the Importance of Signals on Ability in the Presence of Adverse Selection


Book Description

This paper analyzes the tradeoffs associated with relying on performance versus ability measures in executive compensation. We propose a principal-agent model in which the principal designs the compensation scheme to be contingent on the outcome of interest to the principal along with a noisy signal of the agent's ability. The outcome depends on managerial effort and ability. The signal of ability may include traditional measures of human capital, as well as information gleaned from private interactions with the agent. We consider two information structures: pure adverse selection (unobservable ability), and the scenario with moral hazard and adverse selection (unobservable effort and ability). In each information structure, we determine the conditions under which the principal places positive or negative weights on the outcome and signal of ability; when the principal relies more heavily on the outcome relative to the signal of ability; and relate our findings to the adjusted sensitivity results in Banker and Datar (1989). Finally, we compare the weights placed on the outcome and signal of ability across the two information structures, to determine the implications of introducing moral hazard.




The Economics of Venture Capital Firm Operations in India


Book Description

This book studies diverse categories of venture capital (VC) firms in India based on their ownership type (domestic vs foreign), stage of investment (early vs growth stage) and VC investment team composition (entrepreneurial experience vs investing experience). For each category of VC firms, the nuances in their investment, portfolio involvement and exit strategies are separately analysed. Employing the framework of information asymmetry, the book studies how different categories of VC firms rely on distinct mechanisms such as deal syndication and domain specialization to address the ensuing adverse selection and agency risks. It also delves into the macro context by assessing whether the emergence of VC in India has been driven by 'pull' or 'push' factors. This is accomplished by analysing in depth the supply and demand of VC funds. Finally, it critically reviews the existing policies of entrepreneurial finance and arrives at recommendations for future directions of the same.




International Handbook on the Economics of Tourism


Book Description

Tourism economics is a rapidly expanding field of research and interest in the subject has been growing steadily over the past decade. As a field of study it is one of the small band of areas, such as energy and transport economics, that draws on, and applies, developments in general economics. This highly accessible and comprehensive Handbook presents a cutting edge discussion of the state of tourism economics and its likely directions in future research. Leading researchers in the field explore a wide range of topics including: demand and forecasting, supply, transport, taxation and infrastructure, evaluation and application for policy-making. Each chapter includes a discussion of its relevance and importance to the tourism economics literature, an overview of its main contributions and themes, a critical evaluation of existing literature and an outline of issues for further conceptual and applied research. Larry Dwyer and Peter Forsyth have assembled a fascinating Handbook that will be an invaluable and much welcomed reference book for tourism economics scholars and researchers at all levels of academe. General economics scholars will also find much to engage them within the book.




Basics of Anesthesia E-Book


Book Description

The undisputed leading text in its market, Basics of Anesthesia, 7th Edition, provides comprehensive coverage of both basic science and clinical topics in anesthesiology. Drs. Manuel C. Pardo, Jr. and Ronald D. Miller, in conjunction with many new contributors, have ensured that all chapters are thoroughly up to date and reflect the latest advances in today’s practice. Unparalleled authorship, concise text, easy-to-read chapters, and a user-friendly format make this text the #1 primer on the scope and practice of anesthesiology. Presents the combined expertise of two of the most prolific and renowned anesthesia experts worldwide, along with more than 80 expert contributing authors. Uses a concise, at-a-glance format to cover both the basic science and essential clinical aspects of the field, including pathophysiology, pharmacology, regional anesthesia, anesthetic management, and special problems and patient groups. Features high-quality images that offer a detailed visual understanding of regional anesthesiology and much more. Includes new topics and chapters on Neurotoxicity of Anesthesia, Palliative Care, Sleep Medicine, Perioperative Surgical Home, Trauma, and Natural/Human-Induced Disasters. Expert ConsultTM eBook version included with purchase. This enhanced eBook experience allows you to search all of the text, figures, and references from the book on a variety of devices.




Drug Abuse Handbook


Book Description

Following the well-received first edition, the Drug Abuse Handbook, Second Edition is a thorough compendium of the knowledge of the pharmacological, medical, and legal aspects of drugs. The book examines criminalistics, pathology, pharmacokinetics, neurochemistry, treatment, as well as drugs and drug testing in the workplace and in sports, and the




Parenting Matters


Book Description

Decades of research have demonstrated that the parent-child dyad and the environment of the familyâ€"which includes all primary caregiversâ€"are at the foundation of children's well- being and healthy development. From birth, children are learning and rely on parents and the other caregivers in their lives to protect and care for them. The impact of parents may never be greater than during the earliest years of life, when a child's brain is rapidly developing and when nearly all of her or his experiences are created and shaped by parents and the family environment. Parents help children build and refine their knowledge and skills, charting a trajectory for their health and well-being during childhood and beyond. The experience of parenting also impacts parents themselves. For instance, parenting can enrich and give focus to parents' lives; generate stress or calm; and create any number of emotions, including feelings of happiness, sadness, fulfillment, and anger. Parenting of young children today takes place in the context of significant ongoing developments. These include: a rapidly growing body of science on early childhood, increases in funding for programs and services for families, changing demographics of the U.S. population, and greater diversity of family structure. Additionally, parenting is increasingly being shaped by technology and increased access to information about parenting. Parenting Matters identifies parenting knowledge, attitudes, and practices associated with positive developmental outcomes in children ages 0-8; universal/preventive and targeted strategies used in a variety of settings that have been effective with parents of young children and that support the identified knowledge, attitudes, and practices; and barriers to and facilitators for parents' use of practices that lead to healthy child outcomes as well as their participation in effective programs and services. This report makes recommendations directed at an array of stakeholders, for promoting the wide-scale adoption of effective programs and services for parents and on areas that warrant further research to inform policy and practice. It is meant to serve as a roadmap for the future of parenting policy, research, and practice in the United States.




Bulletin of the Atomic Scientists


Book Description

The Bulletin of the Atomic Scientists is the premier public resource on scientific and technological developments that impact global security. Founded by Manhattan Project Scientists, the Bulletin's iconic "Doomsday Clock" stimulates solutions for a safer world.







Drug Abuse Handbook


Book Description

This is the handbook that professionals who deal with problems related to drugs and drug abuse have been waiting for. The impressive list of more than 80 contributors, each experts and leaders in their field, testifies to the importance of this outstanding new handbook. The volume contains detailed discussions of drug-related issues in criminalistics, pathology, and toxicology. Impairment testing and the pharmacokinetics of abused drugs are examined in detail, as is the field of workplace drug testing, the use of alternate testing matrices, drugs in sports, addiction medicine, and drug-related medical emergencies. The handbook focuses on the most urgent drug abuse-related problems of today An entire section is devoted to alcohol abuse, including a scientific appraisal of the most common drunk driving defenses, complete with sample calculations. Problems of postmortem toxicology are thoroughly detailed and an appendix lists key references for the most widely used analytic methods. An in-depth analysis of legal questions, including fetal rights and workplace testing Examination of the principles of addiction medicine and how doctors handle substance abuse problems A section addressing drug use by athletes, including a summary of current Olympic Committee Regulations regarding substance use and the latest information on detecting abuse of Human Growth Hormone and Erythropoietin Whether you are approaching the issue of drug abuse from a medical, psychological, toxicological, or legal perspective, the Drug Abuse Handbook is the most authoritative and complete resource available.




Usability Evaluation and Interface Design


Book Description

This three volume set provides the complete proceedings of the Ninth International Conference on Human-Computer Interaction held August, 2001 in New Orleans. A total of 2,738 individuals from industry, academia, research institutes, and governmental agencies from 37 countries submitted their work for presentation at the conference. The papers address the latest research and application in the human aspects of design and use of computing systems. Those accepted for presentation thoroughly cover the entire field of human-computer interaction, including the cognitive, social, ergonomic, and health aspects of work with computers. The papers also address major advances in knowledge and effective use of computers in a variety of diversified application areas, including offices, financial institutions, manufacturing, electronic publishing, construction, and health care.