منابع مشابه
Information Asymmetry and Incentives for Active Management
This paper examines the equilibrium consequences of strategic behavior of mutual fund managers who withhold information about their funds and their managerial ability. We show that under this information asymmetry, low skills in the industry can result in a growth of passive management. A separating equilibrium in which skilled managers actively manage funds arises only if their compensation de...
متن کاملIncentives and Information Security
Many interesting and important new applications of game theory have been discovered over the past 5 years in the context of research into the economics of information security. Many systems fail not ultimately for technical reasons but because incentives are wrong. For example, the people who guard a system often are not the people who suffer the full costs of failure, and as a result they make...
متن کاملInformation, Decisions and Incentives
In this paper we endogenize the point in time where an agent (and the principal) observe the realization of an additional signal: before the agent’s effort choice (ex ante information) or after (ex post information). We show that there is no difference between incentive and decision problems if the signal is uninformative about the agent’s effort: ex ante information is never worse and – if the...
متن کاملInformation and Incentives: The Agency Information Problem
Your use of the JSTOR archive indicates your acceptance of JSTOR's Terms and Conditions of Use, available at http://www.jstor.org/page/info/about/policies/terms.jsp. JSTOR's Terms and Conditions of Use provides, in part, that unless you have obtained prior permission, you may not download an entire issue of a journal or multiple copies of articles, and you may use content in the JSTOR archive o...
متن کاملInformation, incentives and multinational firms
Theoretical approaches to information and incentive problems in analyzing multinational firms’ behavior remain under-examined. I present a model that explains a multinational firm’s choice of organizational form of its intermediate goods production in the south, which includes FDI and outsourcing. In the case of outsourcing in the south, the multinational firm is faced with an adverse selection...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Journal of Economics & Management Strategy
سال: 2013
ISSN: 1058-6407
DOI: 10.1111/jems.12006