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Contract Theory in Continuous-Time Models

Author : Jakša Cvitanic

Publisher : Springer Science & Business Media

Page : 258 pages

File Size : 15,69 MB

Release : 2012-09-26

Category : Mathematics

ISBN : 3642141994

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Book Description

In recent years there has been a significant increase of interest in continuous-time Principal-Agent models, or contract theory, and their applications. Continuous-time models provide a powerful and elegant framework for solving stochastic optimization problems of finding the optimal contracts between two parties, under various assumptions on the information they have access to, and the effect they have on the underlying "profit/loss" values. This monograph surveys recent results of the theory in a systematic way, using the approach of the so-called Stochastic Maximum Principle, in models driven by Brownian Motion. Optimal contracts are characterized via a system of Forward-Backward Stochastic Differential Equations. In a number of interesting special cases these can be solved explicitly, enabling derivation of many qualitative economic conclusions.



The Oxford Handbook Public Accountability

Author : M. A. P. Bovens

Publisher : Oxford Handbooks

Page : 737 pages

File Size : 24,73 MB

Release : 2014-04

Category : Business & Economics

ISBN : 0199641250

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Book Description

Drawing on the best scholars in the field from around the world, this handbook showcases conceptual and normative as well as the empirical approaches in public accountability studies.



Strategic Decisions: The Mathematics of Game Theory

Author : Lexa N. Palmer

Publisher : Book Lovers HQ

Page : 195 pages

File Size : 16,15 MB

Release : 2024-07-31

Category : Mathematics

ISBN :

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Book Description

Embark on a journey to unlock the secrets behind successful decision-making with "Strategic Decisions: The Mathematics of Game Theory." This comprehensive exploration leaves no stone unturned in the intricate world of game theory, offering insights into how individuals, businesses, and nations make strategic choices in various contexts. Whether you're navigating the complexities of competitive markets, political landscapes, or everyday interactions, this book equips you with the tools to understand and influence outcomes, ensuring a confident and reassured learning journey. In "Strategic Decisions," you'll not only grasp the foundational game theory concepts, including Nash equilibrium, dominant strategies, and mixed strategies, but also witness their real-world applications. The book transcends theory to explore practical applications in economics, politics, business, and beyond, empowering you with the knowledge of how game theory can be applied to real-world situations. From optimizing market strategies to understanding the dynamics of international relations, this book provides a rich understanding of the strategic behavior that shapes our world. What You Will Find in This Book: The history and evolution of game theory Key concepts like Nash equilibrium and dominant strategies Applications of game theory in economics and market strategies Insights into political strategy and international relations The role of information and signaling in decision-making Behavioral game theory and human psychology Ethical and philosophical considerations in strategic choices Case studies and practical applications across various fields Whether you're a student, professional, or curious reader, "Strategic Decisions: The Mathematics of Game Theory" offers not just insights, but a potential transformation in your approach to decision-making. Dive into the world of game theory and let it inspire and motivate you to make strategic choices that can shape your future.



Issues in Logic, Operations, and Computational Mathematics and Geometry: 2011 Edition

Author :

Publisher : ScholarlyEditions

Page : 995 pages

File Size : 17,95 MB

Release : 2012-01-09

Category : Mathematics

ISBN : 1464964793

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Book Description

Issues in Logic, Operations, and Computational Mathematics and Geometry: 2011 Edition is a ScholarlyEditions™ eBook that delivers timely, authoritative, and comprehensive information about Logic, Operations, and Computational Mathematics and Geometry. The editors have built Issues in Logic, Operations, and Computational Mathematics and Geometry: 2011 Edition on the vast information databases of ScholarlyNews.™ You can expect the information about Logic, Operations, and Computational Mathematics and Geometry in this eBook to be deeper than what you can access anywhere else, as well as consistently reliable, authoritative, informed, and relevant. The content of Issues in Logic, Operations, and Computational Mathematics and Geometry: 2011 Edition has been produced by the world’s leading scientists, engineers, analysts, research institutions, and companies. All of the content is from peer-reviewed sources, and all of it is written, assembled, and edited by the editors at ScholarlyEditions™ and available exclusively from us. You now have a source you can cite with authority, confidence, and credibility. More information is available at http://www.ScholarlyEditions.com/.



Ethics and Agency Theory

Author : Norman E. Bowie

Publisher : Oxford University Press, USA

Page : 254 pages

File Size : 39,90 MB

Release : 1992

Category : Business & Economics

ISBN : 9780195067989

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Book Description

Agency theory involves what is known as the principal-agent problem, a topic widely discussed in economics, management, and business ethics today. It is a characteristic of nearly all modern business firms that the principals (the owners and shareholders) are not the same people as the agents (the managers who run the firms for the principals). This creates situations in which the goals of the principals may not be the same as the agents--the principals will want growth in profits and stock price, while agents may want growth in salaries and positions in the hierarchy. The fourth volume in the Ruffin Series in Business, this book explores the ethical consequences of agency theory through contributions by ethicists, economists, and management theorists.



The Theory of Incentives

Author : Jean-Jacques Laffont

Publisher : Princeton University Press

Page : 436 pages

File Size : 14,38 MB

Release : 2009-12-27

Category : Business & Economics

ISBN : 1400829453

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Book Description

Economics has much to do with incentives--not least, incentives to work hard, to produce quality products, to study, to invest, and to save. Although Adam Smith amply confirmed this more than two hundred years ago in his analysis of sharecropping contracts, only in recent decades has a theory begun to emerge to place the topic at the heart of economic thinking. In this book, Jean-Jacques Laffont and David Martimort present the most thorough yet accessible introduction to incentives theory to date. Central to this theory is a simple question as pivotal to modern-day management as it is to economics research: What makes people act in a particular way in an economic or business situation? In seeking an answer, the authors provide the methodological tools to design institutions that can ensure good incentives for economic agents. This book focuses on the principal-agent model, the "simple" situation where a principal, or company, delegates a task to a single agent through a contract--the essence of management and contract theory. How does the owner or manager of a firm align the objectives of its various members to maximize profits? Following a brief historical overview showing how the problem of incentives has come to the fore in the past two centuries, the authors devote the bulk of their work to exploring principal-agent models and various extensions thereof in light of three types of information problems: adverse selection, moral hazard, and non-verifiability. Offering an unprecedented look at a subject vital to industrial organization, labor economics, and behavioral economics, this book is set to become the definitive resource for students, researchers, and others who might find themselves pondering what contracts, and the incentives they embody, are really all about.



Estimation and Control of Dynamical Systems

Author : Alain Bensoussan

Publisher : Springer

Page : 552 pages

File Size : 43,19 MB

Release : 2018-05-23

Category : Mathematics

ISBN : 3319754564

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Book Description

This book provides a comprehensive presentation of classical and advanced topics in estimation and control of dynamical systems with an emphasis on stochastic control. Many aspects which are not easily found in a single text are provided, such as connections between control theory and mathematical finance, as well as differential games. The book is self-contained and prioritizes concepts rather than full rigor, targeting scientists who want to use control theory in their research in applied mathematics, engineering, economics, and management science. Examples and exercises are included throughout, which will be useful for PhD courses and graduate courses in general. Dr. Alain Bensoussan is Lars Magnus Ericsson Chair at UT Dallas and Director of the International Center for Decision and Risk Analysis which develops risk management research as it pertains to large-investment industrial projects that involve new technologies, applications and markets. He is also Chair Professor at City University Hong Kong.



Problem-Solving Strategies for Efficient and Elegant Solutions, Grades 6-12

Author : Alfred S. Posamentier

Publisher : Corwin Press

Page : 281 pages

File Size : 20,74 MB

Release : 2008-03-20

Category : Education

ISBN : 1452295573

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Book Description

"The authors have provided a unique, strategy-focused resource supported by a wealth of engaging examples that mathematics teachers can readily use to help students develop a more purposeful, systematic, and successful approach to problem solving." —Howard W. Smith, Superintendent Public Schools of the Tarrytowns, Sleepy Hollow, NY "Helps both new and veteran teachers better understand the nature of problem solving as a critical mathematics process. The authors present in very simple terms the strategies that are the backbone of mathematics instruction. This indispensable material is useful at all levels, from basic stages to advanced student work to the development of top problem solvers." —Daniel Jaye, Principal Bergen County Academies, Hackensack, NJ Help students become skilled and confident problem solvers! Demonstrating there is always more than one approach to solving a problem, well-known authors and educators Alfred S. Posamentier and Stephen Krulik present ten basic strategies that are effective for finding solutions to a wide range of mathematics problems. These tried-and-true methods—including working backwards, finding a pattern, adopting a different point of view, solving a simpler analogous problem, and making a visual representation—make problem solving easier, neater, and more understandable for students as well as teachers. Providing numerous sample problems that illustrate how mathematics teachers and specialists can incorporate these techniques into their mathematics curriculum, this updated edition also includes: A variety of new problems that show how to use the strategies References to current NCTM standards Solutions to the problems in each chapter Extensive discussions of the empowering strategies used to solve sample problems The second edition of Problem-Solving Strategies for Efficient and Elegant Solutions, Grades 6–12 helps teachers develop students′ creative problem-solving skills for success in and out of school.



Handbook of Game Theory with Economic Applications

Author : R.J. Aumann

Publisher : Elsevier

Page : 824 pages

File Size : 25,78 MB

Release : 1992

Category : Business & Economics

ISBN : 9780444894274

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Book Description

This is the second of three volumes surveying the state of the art in Game Theory and its applications to many and varied fields, in particular to economics. The chapters in the present volume are contributed by outstanding authorities, and provide comprehensive coverage and precise statements of the main results in each area. The applications include empirical evidence. The following topics are covered: communication and correlated equilibria, coalitional games and coalition structures, utility and subjective probability, common knowledge, bargaining, zero-sum games, differential games, and applications of game theory to signalling, moral hazard, search, evolutionary biology, international relations, voting procedures, social choice, public economics, politics, and cost allocation. This handbook will be of interest to scholars in economics, political science, psychology, mathematics and biology. For more information on the Handbooks in Economics series, please see our home page on http://www.elsevier.nl/locate/hes



The Noblest Triumph

Author : Tom Bethell

Publisher : Palgrave Macmillan

Page : 384 pages

File Size : 31,86 MB

Release : 1999-10-20

Category : Political Science

ISBN : 9780312223373

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Book Description

In The Noblest Triumph, Tom Bethell looks at the history of property rights and shows that the key role played by the institution of private property has been misunderstood by Western elites for more than a century. Beginning with the ancient Greeks and arriving at the present day, Bethell looks at basic ideas about property found in the writings of Plato, Adam Smith, Blackstone, Bentham, Marx, Mill, and others. He shows that the institution of property is inextricably tied to traditional conceptions of justice and liberty, and he argues that prosperity and civilization can only arise where private property is securely held by the people. The Noblest Triumph is an indispensable book for anyone interested in this fundamental aspect of civilization and the progress of humankind through the ages.