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The Value of Signals in Hidden Action Models. Concepts, Application, and Empirical Evidence.
Schnedler Wendelin
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Description for The Value of Signals in Hidden Action Models. Concepts, Application, and Empirical Evidence.
Paperback. Series: Contributions to Economics. Num Pages: 162 pages, 9 black & white tables, biography. BIC Classification: KCA. Category: (P) Professional & Vocational. Dimension: 234 x 156 x 9. Weight in Grams: 256.
Since the fundamental work of Walras (1874), markets have received particular attention by economists because they lead to an efficient allocation of goods and services. However, the proper functioning of markets rests on certain assumptions. For instance, the good or ser vice which is to be traded must be clearly defined. This elementary requirement is often violated in reality, in particular when services are concerned. Consider the example of railway workers who are hired to lay tracks. A labour contract which stipulates a fixed wage and defines the workers' task as "laying tracks" is rather unspecific. Workers may profit from ... Read more
Since the fundamental work of Walras (1874), markets have received particular attention by economists because they lead to an efficient allocation of goods and services. However, the proper functioning of markets rests on certain assumptions. For instance, the good or ser vice which is to be traded must be clearly defined. This elementary requirement is often violated in reality, in particular when services are concerned. Consider the example of railway workers who are hired to lay tracks. A labour contract which stipulates a fixed wage and defines the workers' task as "laying tracks" is rather unspecific. Workers may profit from ... Read more
Product Details
Format
Paperback
Publication date
2004
Publisher
Springer-Verlag Berlin and Heidelberg GmbH & Co. KG Germany
Number of pages
162
Condition
New
Series
Contributions to Economics
Number of Pages
162
Place of Publication
Heidelberg, Germany
ISBN
9783790801736
SKU
V9783790801736
Shipping Time
Usually ships in 15 to 20 working days
Ref
99-15
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