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Optimal Resource Extraction Contracts under Threat of Expropriation

Eduardo Engel and Ronald Fischer

in The Natural Resources Trap: Private Investment without Public Commitment

Published in print:
2010
Published Online:
August 2013
ISBN:
9780262013796
eISBN:
9780262275538
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262013796.003.0008
Subject:
Economics and Finance, Econometrics

The object of this chapter is to propose an environment in which expropriations cannot be ruled out because of ex post political pressures. General conditions are derived that characterize the ... More


The revelation principle and mechanism design

David M. Kreps

in A Course in Microeconomic Theory

Published in print:
2020
Published Online:
May 2021
ISBN:
9780691202754
eISBN:
9780691215747
Item type:
chapter
Publisher:
Discontinued
DOI:
10.23943/princeton/9780691202754.003.0018
Subject:
Economics and Finance, Microeconomics

This chapter evaluates a more general attack on optimal contract and mechanism design stressing cases of adverse selection, which makes use of the revelation principle. One should be clear about the ... More


Delegated Investing

Andrew Ang

in Asset Management: A Systematic Approach to Factor Investing

Published in print:
2014
Published Online:
August 2014
ISBN:
9780199959327
eISBN:
9780199382323
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199959327.003.0015
Subject:
Economics and Finance, Financial Economics

What is best for the asset owner (principal) is usually not best for the delegated fund manager (agent). Principal–agent conflicts can be mitigated by appropriate governance structures and contracts. ... More


Comments by Eric Maskin on “An Optimal Contract”

Scott Barrett, Karl-Göran Mäler, and Eric S. Maskin (eds)

in Environment and Development Economics: Essays in Honour of Sir Partha Dasgupta

Published in print:
2014
Published Online:
May 2014
ISBN:
9780199677856
eISBN:
9780191757266
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199677856.003.0012
Subject:
Economics and Finance, Development, Growth, and Environmental

Positive incentives (rewards) are as important as negative incentives (punishments). Incorporating positive incentives into the analysis would likely make the co-management arrangement more effective ... More


Executive Compensation in India: An Empirical Investigation

Bala N. Balasubramanian, Samir K. Barua, and D. Karthik

in Corporate Governance in India: Change and Continuity

Published in print:
2016
Published Online:
December 2016
ISBN:
9780199469321
eISBN:
9780199087532
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199469321.003.0011
Subject:
Business and Management, Corporate Governance and Accountability

One of the key issues raised by Occupy Wall Street movement that began in 2011 pertains to the morality and the propriety of compensation levels of top executives in the recent past that were ... More


The Magnitude and Structure of Executive Compensation

Robert W. Kolb

in Too Much Is Not Enough: Incentives in Executive Compensation

Published in print:
2012
Published Online:
April 2015
ISBN:
9780199829583
eISBN:
9780190258498
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:osobl/9780199829583.003.0001
Subject:
Business and Management, Corporate Governance and Accountability

This chapter analyzes the general level of executive compensation and explains the main components of executive pay packages. It focuses on two approaches that address why executive pay is so high ... More


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