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Social Norms, Bounded Rationality and Optimal Contracts

Previously published in hardcover
BuchKartoniert, Paperback
176 Seiten
Englisch
Springererschienen am07.06.2018Softcover reprint of the original 1st ed. 2016
This book investigates the ways in which social norms and bounded rationality shape different contracts in the real world. It brings into focus existing research into optimal contracts, draws important lessons from that research, and outlines prospects for future investigation.Bounded rationality has acknowledged effects on the power of incentive provisions, such as deviations from sufficient statistic theorem, the power of optimal incentives, and the effects of optimal contracts in multicultural environments. The introduction of social norms to bounded rationality opens up new avenues of investigation into contracts and mechanism design.This book makes an important contribution to the study of bounded rationality by pulling together many separate strands of research in the area of mechanism design, and providing detailed analysis of the impact of societal values on contracts.mehr
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Produkt

KlappentextThis book investigates the ways in which social norms and bounded rationality shape different contracts in the real world. It brings into focus existing research into optimal contracts, draws important lessons from that research, and outlines prospects for future investigation.Bounded rationality has acknowledged effects on the power of incentive provisions, such as deviations from sufficient statistic theorem, the power of optimal incentives, and the effects of optimal contracts in multicultural environments. The introduction of social norms to bounded rationality opens up new avenues of investigation into contracts and mechanism design.This book makes an important contribution to the study of bounded rationality by pulling together many separate strands of research in the area of mechanism design, and providing detailed analysis of the impact of societal values on contracts.
Details
ISBN/GTIN978-981-10-9313-5
ProduktartBuch
EinbandartKartoniert, Paperback
Verlag
Erscheinungsjahr2018
Erscheinungsdatum07.06.2018
AuflageSoftcover reprint of the original 1st ed. 2016
ReiheStudies in Economic Theory
Seiten176 Seiten
SpracheEnglisch
Gewicht2934 g
IllustrationenIX, 176 p.
Artikel-Nr.48171043
Rubriken
GenreWirtschaft

Inhalt/Kritik

Inhaltsverzeichnis
Chapter 1 Preface.- Part I Mechanism Design under Bounded Rationality.- Chapter 2 Introduction.- Chapter 3 Complexity constraints and mechanism design.- Chapter 4 Learning, probabilistic choice, and mechanism design.- Chapter 5 Some other models of mechanism design under bounded rationality.- Chapter 6 Conclusions.- Part II Social Norms and Mechanism Design.- Chapter 7 Peer Pressure and Agency Relationship.- Chapter 8 Statistical Mechanics of High Performing Working Systems.- Chapter 9 Optimal contracting in social environment.- Part III Lessons learnt and directions for future research.mehr

Schlagworte

Autor

Suren Basov is a visitor to the Centre for Economics and Financial Econometrics at Deakin University, Australia. His research interests lie in the areas of mechanism design, with a particular emphasis on multidimensional screening models, the theory of bounded rationality, and evolutionary game theory. He also does research in the areas of directed search and unemployment, and incentive provision within clubs, with a particular application to Islamic finance.