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Contract Theory Jesse Russell

Contract Theory

Jesse Russell

Published June 12th 2012
ISBN : 9785512633489
Paperback
138 pages
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 About the Book 

High Quality Content by WIKIPEDIA articles! In economics, contract theory studies how economic actors can and do construct contractual arrangements, generally in the presence of asymmetric information. Because of its connections with both agency andMoreHigh Quality Content by WIKIPEDIA articles! In economics, contract theory studies how economic actors can and do construct contractual arrangements, generally in the presence of asymmetric information. Because of its connections with both agency and incentives, contract theory is often categorized within a field known as Law and economics. One prominent application of it is the design of optimal schemes of managerial compensation. In the field of economics, the first formal treatment of this topic was given by Kenneth Arrow in the 1960s.