The economics of taxation second edition bernard salanie. Request the article directly from the author on researchgate. A concise introduction to the theory of contracts, emphasizing basic tools that allow the reader to understand the main theoretical models. Concision and clarity make the book an elegant introduction to the subject for newcomers. Oliver hart, professor of economics, harvard university the economics of contracts offers an excellent introduction to agency models.
Economic theory of contracts analyzes optimal design of contracts and institutions in envi. Some of it is high theory, as in the work of jeanmichel grandmont, but most of it has an applied character. Economics of information and contracts introduction. While the aim is the develop a toolset, we motivate the analysis with a wide variety of applications drawn from industrial organization, corporate finance, personnel economics, and public economics. Economics is a social science that tries to explain how to. Contracts and organizations, econometrics, industrial organization, labor economics, microeconomics, public economics. A primer second edition, 2005, both published by the mit press.
The goal is to give readers the tools to understand the basic models and create their own. Review salanie provides a broad overview of the economics of contracts. In this book bernard salanie studies situations where competitive markets fail to achieve a collective optimum and the interventions used to remedy these socalled market failures. While the theoretical literature on contracts has been enormous since the seventies, empirical tests of the theory have long remained scarce. Abstracting from potential incentive costs, both theoretical and applied research on contracts and contract choice suggest that bundling multiple contracts may be optimal. Written by one of the leading young researchers in contract theory, it is rigorous, clear, concise and uptodate. The economics of contracts by bernard salanie waterstones. With the abundance of risk and uncertainty, especially among lowincome environments that are often illprepared, the design and commercial success of contracts for mitigating these risks remain crucial. His books include the microeconomics of market failures 2000 and the economics of taxation 2003, both published by the mit press. 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. The economics of contractsa primer request pdf researchgate. Bernard salanie is professor of economics at columbia university. Bruno jullien, bernard salanie and francois salanie university of toulouse 1 toulouse school of economics tse, columbia university graduate school of arts and sciences department of economics and national institute for agricultural research inra.
Contents foreword ix introduction 1 some history 2 current tax systems 5. Cesifo center for economic studies and ifo institute francois salanie. Salanie s book covers the standard areas of contract theory. A primer, 2nd edition bernard salanie download bok. Microeconomics of market failures bernard salanie haftad. The economics of contracts a primer, 2e livros na amazon. Written by one of the leading young researchers in contact theory, it is rigorous, clear, concise, and uptodate. Salanie provides a broad overview of the economics of contracts. A primer, mit press, 1997 translated into japanese by keiso shobo publishers, 2000. 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. The economics of contracts by bernard salanie, 9780262534222, available at book depository with free delivery worldwide.
General theory we use the term adverse selection when a characteristic of the agent is imperfectly observed by the principal. But it is also a useful reference for experienced students and researchers. A concise introduction to the theory of contracts, emphasizing basic tools that allow the reader to. Pierreandre and salanie, bernard, testing contract theory. Mar 11, 2005 the economics of contracts offers an excellent introduction to agency models. The university of hong kong faculty of business and economics school of economics and finance econ 0706econ 3215 uncertainty and information i. Columbia university graduate school of arts and sciences department of economics. This popular text, revised and updated throughout for the second edition. It will cover classic papers of contract design under asymmetric information moral hazard and adverse selection. One prominent application of it is the design of optimal schemes of managerial.
Agency theory is a dominant approach in the economic study of organization and management. Earlier versions of most of the papers were published in special issue no. However, new empirical work has been developed in the last ten years that sheds light on the empirical validation of the theory. Researchers and students who want to learn about the economics of incentives will want to. Bentley macleod sami mnaymneh professor of economics and professor of international and public affairs. Contracts and organization, econometrics, industrial organization, labor economics, microeconomics, public economics eric verhoogen professor of economics and. Bernard salanie formerly director of crest paris, he has taught at ecole polytechnique, stanford university, the university of chicago, and the toulouse school of economics.
University of toulouse 1 toulouse school of economics tse. Although it is one of the major achievements in the history of economic thought, the general equilibrium model is not completely satisfactory as a descriptive tool. Researchers and students who want to learn about the economics of incentives will want to read this primer. Incentivesandcontracts, oxford university press, 2001. In the 1970s several economists settled on a new way to study economic relationships that is often called the economics of information. Cesifo center for economic studies and ifo institute. Because of its connections with both agency and incentives, contract theory is often categorized within a field known as law and economics. This popular text, revised and updated throughout for the second edition, serves as a. From salanie the economics of contracts 2nd edition q3. The economics of contracts offers an excellent introduction to agency models.
Formerly director of crest paris, he has taught at ecole polytechnique, stanford university, the university of chicago, and the toulouse school of economics. Screening risk averse agents under moral hazard by bruno. Pdf the economics of contracts download full pdf book. Pdf the economics of contractstheories and applications. Graduate school of arts and sciences, department of economics. The theory of contracts grew out of the failure of the general equilibrium model to account for the strategic. The economics of contracts introduces graduate students and nonspecialist professional economists to the theory of contracts. Mar 15, 2005 salanie provides a broad overview of the economics of contracts.
Bernard salanie studies situations where competitive markets fail to achieve a collective optimum and the interventions used to remedy these socalled market failures. The economics of taxation second edition bernard salanie the mit press cambridge, massachusetts london, england. A primer by salanie, bernard and a great selection of related books, art and collectibles available now at. Formerly director of crest paris, he has taught at ecole polytechnique, stanford university. For the second edition, major changes have been made to chapter 3, on examples and extensions for the adverse. 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. A concise introduction to the theory of contracts, emphasizing basic tools that allow the reader.
This paper aims at surveying the recent empirical work on contracts. This popular text, revised and updated throughout for the second edi. The theory of contracts is one of its main building blocks. In economics, contract theory studies how economic actors can and do construct contractual arrangements, generally in the presence of asymmetric information. Course description this course examines the effects of uncertainty and imperfect information on individual decision making and on market equilibrium. The theory of contracts grew out of the failure of the general. Topics may include the expected utility hypothesis, risk bearing and.
The economics of contracts, second edition the mit press. Its conceptual foundations are rooted in information economics and contract theory that draw on the premise that. The economics of taxation second edition, by bernard. Salanie is the author of microeconomics of market failures 2000 and the economics of contracts. Sep, 2002 while the theoretical literature on contracts has been enormous since the seventies, empirical tests of the theory have long remained scarce. A primer 9780262193863 by salanie, bernard and a great selection of similar new, used and collectible books available now at great prices.
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