Incentives And Political Economy

Author : Jean-Jacques Laffont
Publisher : Oxford University Press
ISBN 13 : 0198294247
Total Pages : 270 pages
Book Rating : 4.45/5 ( download)

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Download or read book Incentives and Political Economy written by Jean-Jacques Laffont and published by Oxford University Press. This book was released on 2000-03-30 with total page 270 pages. Available in PDF, EPUB and Kindle. Book excerpt: Mainstream economics has recognized only recently the necessity to incorporate political constraints into economic analysis intended for policy advisors. Incentives and Political Economy uses recent advances in contract theory to build a normative approach to constitutional design in economic environments.The first part of the book remains in the tradition of benevolent constitutional design with complete contracting. It treats politicians as informed supervisors and studies how the Constitution should control them, in particular to avoid capture by interest groups. Incentive theories for the separation of powers or systems of checks and balances are developed.The second part of the book recognises the incompleteness of the constitutional contract which leaves discretion to the politicans selected by the electoral process. Asymmetric information associates information rents with economic policies and the political game becomes a game of costly redistribution of those rents. Professor Laffont investigates the trade-offs between an inflexible constitution which leaves little discretion to politicians but sacrifices ex post efficiency and a constitutionweighted towards ex post efficiency but also giving considerable discretion to politicians to pursue private agendas.The final part of the book reconsiders the modeling of collusion given asymmetric information. It proposes a new approach to characterizing incentives constraints for group behaviour when asymmetric information is non-verifiable. This provides a methodology to characterise the optimal constitutional response to activities of interest groups and to study the design of any institution in which group behavior is important.

Author : Nathan M. Jensen
Publisher : Cambridge University Press
ISBN 13 : 1108311423
Total Pages : 271 pages
Book Rating : 4.27/5 ( download)

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Download or read book Incentives to Pander written by Nathan M. Jensen and published by Cambridge University Press. This book was released on 2018-03-15 with total page 271 pages. Available in PDF, EPUB and Kindle. Book excerpt: Policies targeting individual companies for economic development incentives, such as tax holidays and abatements, are generally seen as inefficient, economically costly, and distortionary. Despite this evidence, politicians still choose to use these policies to claim credit for attracting investment. Thus, while fiscal incentives are economically inefficient, they pose an effective pandering strategy for politicians. Using original surveys of voters in the United States, Canada and the United Kingdom, as well as data on incentive use by politicians in the US, Vietnam and Russia, this book provides compelling evidence for the use of fiscal incentives for political gain and shows how such pandering appears to be associated with growing economic inequality. As national and subnational governments surrender valuable tax revenue to attract businesses in the vain hope of long-term economic growth, they are left with fiscal shortfalls that have been filled through regressive sales taxes, police fines and penalties, and cuts to public education.

Author : Donald E. Campbell
Publisher : Cambridge University Press
ISBN 13 : 1107035244
Total Pages : 699 pages
Book Rating : 4.49/5 ( download)

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Download or read book Incentives written by Donald E. Campbell and published by Cambridge University Press. This book was released on 2018-02-22 with total page 699 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines incentives at work to see how and how well coordination is achieved by motivating individual decision makers.

Author : Stefanie Haeffele
Publisher : Rowman & Littlefield
ISBN 13 : 1786603993
Total Pages : 302 pages
Book Rating : 4.99/5 ( download)

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Download or read book Knowledge and Incentives in Policy written by Stefanie Haeffele and published by Rowman & Littlefield. This book was released on 2018-06-04 with total page 302 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book, authored by public policy practitioners and researchers, tackle such pressing issues as public education, the process for approving medical devices, tax policy, and land use regulation.

Author : Donald E. Campbell
Publisher : Cambridge University Press
ISBN 13 : 1108547958
Total Pages : 700 pages
Book Rating : 4.56/5 ( download)

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Download or read book Incentives written by Donald E. Campbell and published by Cambridge University Press. This book was released on 2018-02-22 with total page 700 pages. Available in PDF, EPUB and Kindle. Book excerpt: When incentives work well, individuals prosper. When incentives are poor, the pursuit of self-interest is self-defeating. This book is wholly devoted to the topical subject of incentives from individual, collective, and institutional standpoints. This third edition is fully updated and expanded, including a new section on the 2007–08 financial crisis and a new chapter on networks as well as specific applications of school placement for students, search engine ad auctions, pollution permits, and more. Using worked examples and lucid general theory in its analysis, and seasoned with references to current and past events, Incentives: Motivation and the Economics of Information examines: the performance of agents hired to carry out specific tasks, from taxi drivers to CEOs; the performance of institutions, from voting schemes to medical panels deciding who gets kidney transplants; a wide range of market transactions, from auctions to labor markets to the entire economy. Suitable for advanced undergraduate and graduate students studying incentives as part of courses in microeconomics, economic theory, managerial economics, political economy, and related areas of social science.

Author : Jean-Jacques Laffont
Publisher : Princeton University Press
ISBN 13 : 1400829453
Total Pages : 440 pages
Book Rating : 4.53/5 ( download)

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Download or read book The Theory of Incentives written by Jean-Jacques Laffont and published by Princeton University Press. This book was released on 2009-12-27 with total page 440 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Author : K. Thomas
Publisher : Springer
ISBN 13 : 0230302394
Total Pages : 201 pages
Book Rating : 4.96/5 ( download)

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Download or read book Investment Incentives and the Global Competition for Capital written by K. Thomas and published by Springer. This book was released on 2010-11-24 with total page 201 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a global study of government subsidies to attract investment. The book shows how corporations use site selection as rent extraction, with developing countries investing more than developed ones. It demonstrates that incentive use is rarely a good policy, especially for countries without adequate education and infrastructure.

Author : Timothy J. Bartik
Publisher : W.E. Upjohn Institute
ISBN 13 : 0880996684
Total Pages : 180 pages
Book Rating : 4.86/5 ( download)

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Download or read book Making Sense of Incentives written by Timothy J. Bartik and published by W.E. Upjohn Institute. This book was released on 2019-10-15 with total page 180 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bartik provides a clear and concise overview of how state and local governments employ economic development incentives in order to lure companies to set up shop—and provide new jobs—in needy local labor markets. He shows that many such incentive offers are wasteful and he provides guidance, based on decades of research, on how to improve these programs.

Author : Samuel Bowles
Publisher : Yale University Press
ISBN 13 : 0300221088
Total Pages : 200 pages
Book Rating : 4.84/5 ( download)

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Download or read book The Moral Economy written by Samuel Bowles and published by Yale University Press. This book was released on 2016-05-28 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt: Should the idea of economic man—the amoral and self-interested Homo economicus—determine how we expect people to respond to monetary rewards, punishments, and other incentives? Samuel Bowles answers with a resounding “no.” Policies that follow from this paradigm, he shows, may “crowd out” ethical and generous motives and thus backfire. But incentives per se are not really the culprit. Bowles shows that crowding out occurs when the message conveyed by fines and rewards is that self-interest is expected, that the employer thinks the workforce is lazy, or that the citizen cannot otherwise be trusted to contribute to the public good. Using historical and recent case studies as well as behavioral experiments, Bowles shows how well-designed incentives can crowd in the civic motives on which good governance depends.

Author : Serguey Braguinsky
Publisher : Princeton University Press
ISBN 13 : 0691225362
Total Pages : 295 pages
Book Rating : 4.64/5 ( download)

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Download or read book Incentives and Institutions written by Serguey Braguinsky and published by Princeton University Press. This book was released on 2021-02-09 with total page 295 pages. Available in PDF, EPUB and Kindle. Book excerpt: Here, for the first time, two of Russia's leading economists provide an authoritative analysis of the transition to a democratic market economy that has taken place in Russia since 1990. Serguey Braguinsky, a Russian economist with extensive international experience, and Grigory Yavlinsky, leader of the liberal "Yabloko" party and a major public figure in Russia, focus on the institutions that are critical to a successful transition and the economic incentives needed to make these institutions work. Finally, they discuss in detail the specific components of the economic processes that are necessary for economic transition in general and they draw lessons that can be applied to other nations dealing with similar transitions. In 1989, Grigory Yavlinsky became a member of the Commission for Economic Reform and wrote the groundbreaking "500 Day Plan," which outlined the first program of transition to a market economy. Two years later, he co-wrote the program of strategic cooperation between the Soviet government and the West (known as the "Grand Bargain"). Here he and Serguey Braguinsky examine what went wrong with the Russian plan--and what is needed to put the economy back on the road to becoming a fully functioning market economy. The first section of the book presents a new interpretation of the political economy of the socialist state and the incentives and institutions that underpin it, with an emphasis on the present Russian situation. The second part deals with the political economy of "spontaneous transition" and the inefficiencies inherent in economies that lack the organizations and institutions that inhere in established Western democratic economies. In the final section, the authors present a program of actions to put the economic transition in Russia back on track, based on their assessment of the actual current state of both the economy and the government. Their approach is unique in emphasizing organizational evolution at the microeconomic level instead of stressing macroeconomic issues such as money and inflation that are at the heart of most arguments. This is a thoughtful and thought-provoking book and one that will be widely discussed and debated.