Contract theory studies how parties construct contractual agreements in situations of asymmetric information. It represents decision makers' behavior under certain utility structures and aims to motivate optimal actions. Standard models examine moral hazard when actions are unobserved and adverse selection when private information exists. Incomplete contracting research analyzes the effects of inability to specify all future states. Contract theory helps understand privatization costs/benefits and ensures managers act in investor interests. It provides a means to design better agreements and institutions by considering incentive structures.
Contract Theory - The Nobel Prize in Economic Sciences 2016CLO Legal Solutions
Contract theory does not necessarily provide definitive or unique answers to these questions, as the
best contract will typically depend on the specific situation and context. However, the power of the
theory is that it enables us to think clearly about the issues involved. The contributions of this year’s
laureates, Oliver Hart and Bengt Holmström, are invaluable in helping us understand real-life contracts
and institutions, as well as the potential pitfalls when designing new contracts.
Law Firm in Tirana Albania
www.cenameri.com
info@cenameri.com
Difference between company llp and partnership firm Sandeep Kumar
This slide give an idea to the reader that how company LLP is different as compare to the partenership firm . so after going through these slides they would easly understood the concept and good understanding out of it
Contract Theory - The Nobel Prize in Economic Sciences 2016CLO Legal Solutions
Contract theory does not necessarily provide definitive or unique answers to these questions, as the
best contract will typically depend on the specific situation and context. However, the power of the
theory is that it enables us to think clearly about the issues involved. The contributions of this year’s
laureates, Oliver Hart and Bengt Holmström, are invaluable in helping us understand real-life contracts
and institutions, as well as the potential pitfalls when designing new contracts.
Law Firm in Tirana Albania
www.cenameri.com
info@cenameri.com
Difference between company llp and partnership firm Sandeep Kumar
This slide give an idea to the reader that how company LLP is different as compare to the partenership firm . so after going through these slides they would easly understood the concept and good understanding out of it
This presentation is about corporate financial reporting and it covers the following topics under it :
- Meaning
- Objectives
- Purpose
- Advantages
- Meaning of Annual Report
- Content of Annual Report
GAAP (Generally Accepted Accounting Principles) are a set of rules and guidelines that tell a company how to prepare financial statements.
https://efinancemanagement.com/financial-accounting/importance-of-gaap
It's all a game: The twin fallacies of epistemic purity and the scholarly inv...Carl Bergstrom
My talk from the Feb 2016 Gaming Metrics workshop at UC Davis.
Video of the talk at http://bit.ly/1WwfMxY (begins 20:00)
For some reason the visual gradients (used to indicate gradients of behavior) have not rendered here.
This presentation is about corporate financial reporting and it covers the following topics under it :
- Meaning
- Objectives
- Purpose
- Advantages
- Meaning of Annual Report
- Content of Annual Report
GAAP (Generally Accepted Accounting Principles) are a set of rules and guidelines that tell a company how to prepare financial statements.
https://efinancemanagement.com/financial-accounting/importance-of-gaap
It's all a game: The twin fallacies of epistemic purity and the scholarly inv...Carl Bergstrom
My talk from the Feb 2016 Gaming Metrics workshop at UC Davis.
Video of the talk at http://bit.ly/1WwfMxY (begins 20:00)
For some reason the visual gradients (used to indicate gradients of behavior) have not rendered here.
In March 2, 1917, the Jones Act was approved granting U.S. citizenship to people born in P.R. and providing the residents of P.R. with a “Charter of Rights.” That Bill of Rights included inter alia the “due process” of law when a citizen's life, liberty or property are violated; the right to “Habeas Corpus”; prohibition of ex post facto laws; the just compensation for expropriated property; the right to bail; the right to be innocent until proven guilty; the right to freedom of speech and press; and numerous other provisions under the Constitution of the United Together. In 1948, the U.S. Supreme Court expressed in Foley Brothers Inc. v. Filardo, 336 U.S. 281, that it was a well-established principle of law that all federal legislation applies only within the territorial jurisdiction of the United States unless a contrary intent appears. It was later established that P.R. was to be subject to the Congress’ plenary powers under the “territorial clause” of Article IV, sec. 3, of the U.S. Constitution and that due to the establishment of the Federal Relations Act of 1950 all federal laws that are “not locally inapplicable” were to be automatically the law of the land in P.R.
In 1951, the U.S. Congress approved Public Law 600, authorizing P.R. to draft its own constitution. In July 25, 1952, the Puerto Rican Constitution was approved by a popular referendum and ratified by the U.S. Congress, with a “few amendments.” U.S. maintained an ultimate sovereignty over P.R. while at the same time it gave Puerto Ricans certain degree of autonomy over the island. Under the Territorial Clause, the autonomy recognized to the island has being interpreted by the U.S. Congress as recognition of the sovereignty over the island. In 1976 the U.S. Supreme Court indicated that the purpose of Congress in the legislations of 1950 and 1952 was to accord to P.R. the degree of autonomy and independence normally associated with a State of the Union. In that same year the Puerto Rican Supreme Court, posed with the question of what should be the relationship between the 4th Amendment of the Federal Constitution, and section 10 of article II of the Puerto Rican Constitution, concluded that P.R. remains subject to the will of Congress as to what rights are applicable and which not and that 4th Amendment describes the minimum level of security to be recognize by states, borders that can be expanded but not reduced. In short, because more than 150 years of constitutional development and civil rights struggles around the world as well as the “Universal Declaration of Human Rights” and the “American Declaration of the Rights and Duties of Man,” both from 1948, were taken into account, P.R. was be able to draft a Bill of Rights more extensive and progressive than the one written by the drafters of the U.S. Constitution in the 18th century. In response to that struggle the P.R. Constitution recognizes the constitutional rights of the U.S. Constitutio
Presentation given by Tarun Agarwal to Indian Merchants Chamber (IMC), India's foremost think-tank, on Economic Development for Small & Medium Entreprises (SMEs).
Do read, you will surely find some aspects of it provocative.
It tries to showcase also the need to have an integrated economic development plan where all segments of society work together - Can the SMEs succeed without the support of its employees, vendors, information technology, big businesses, government agencies? The answer is no.
Icon Business Forum is has mobilized of strategy consultants, investment bankers, celebrities, writers, industry chambers to usher in a wave of collective economic development.
Legal economics necessary in curriculumM S Siddiqui
An academic course that blends expertise in law and economics enables lawyers to have an impact on a wide range of issues related to law, business, and finance. Judges and practitioners increasingly rely on economic reasoning to resolve legal disputes.
In some areas of legal practice-especially Contracts, Competition Law, tax law, bankruptcy, corporate and securities law, and other fields of economic law-economic reasoning is often central to the focus of legal arguments, and it continues to grow in importance in many other seemingly non-economic fields, such as environmental law, intellectual property law, consumer's protection law, Tort and more.
TextSeaquist, G. (2015). Employee and labor relations A practic.docxarnoldmeredith47041
Text
Seaquist, G. (2015). Employee and labor relations: A practical guide. San Diego: Bridgepoint Education
· Chapter 7: At the Bargaining Table
· Chapter 8: Grievances, Mediation, and Arbitration
7.1 Collective Bargaining
What is collective bargaining, and why is it such an essential right of organized labor? The theory behind collective bargaining is that it reduces the power differential between management and workers, making the relationship more equal; by compelling management to come to the table and meet with workers, there is a significant shift in power. This section sets the stage for the process of bargaining. It explores what it means that unions are the exclusive representatives of their bargaining unit and reviews the three classifications of bargaining subjects: mandatory, permissive, and illegal.
The Principle of Exclusive Representation
In Chapter 4 we saw that a first step of unionization was for workers to identify who should be a member of the bargaining unit. Once that was established, workers in the designated bargaining unit signed authorization cards, and if at least 30% of the workers voted to unionize, the process of moving toward an election could begin. If the prerequisites were met and an election took place, the National Labor Relations Board (NLRB) certified the union, which meant it then became the exclusive representative of that bargaining unit.
Exclusive representation is an important concept that is found in Sections 8(b) and 9(a) of the Labor Management Relations Act of 1947. Those sections explicitly empower a union that represents a majority of the employees in a bargaining unit to act as all employees’ exclusive representation in collective bargaining.
Exclusive representation has a number of meanings. One is that the employer may not bargain with any other employees, no matter how well intentioned the conversation. Nor may the employer engage in discussions with another union purporting to represent some of the workers. The certified union is the only one with whom the employer may deal.
Exclusive representation obligates all workers in the bargaining unit to participate in union activities, though individuals may choose not to be a member of the union if they have that option. In many states, by law, workers cannot be mandated to join a union or pay dues as a condition of employment. These are referred to as right-to-work states. Despite the fact that the bargaining unit may include workers who do not agree with the union or its philosophy, the union has the duty to represent each worker equally and without bias, no matter their status (union or nonunion; dues paying or not).
In the News: Challenging the Right to Exclusive Representation
Twenty-seven thousand home care workers are part of a union that represents workers who are paid by the state to care for disabled or elderly patients. The National Right to Work Legal Defense Foundation filed a lawsuit in 2014, however, challenging the union’s r.
It is common knowledge that contracts are heart and soul of any business activity. A full proof contract requires vast knowledge of the business world, a thorough understanding of drafting knowledge. Commercial contracts form the backbone of many commercial transactions from vendor agreements to client engagement agreements.
From [email protected]Re Academic Misconduct Antoinette Har.docxhanneloremccaffery
From [email protected]
Re: Academic Misconduct Antoinette Harrell ANRILE9989 BUS670 (5/29/2018)
From: Johnson, Erik <[email protected]
Sent: Friday, June 29, 2018 1:06 PM
To: antoine [email protected]
Cc: Kimberley Foster; Wambua, Kimberlee
Subject: Academic Misconduct Antoine e Harrell ANRILE9989 BUS670 (5/29/2018)
Dear Antoine e Harrell,
Your Week 3 Assignment submi ed in BUS670 (5/29/2018) has been iden fied as plagiarized. Since you submi ed the Week 3 Assignment before
being no fied of the Week 1 Discussion 1 and 2 academic misconduct, the Week 3 Assignment has been added to the incident you were cited for on
6/19/2018. This will not be treated as a separate incident.
I am a aching your assignment with areas highlighted. It seems you are using large por ons of your resources without properly recognizing the source.
You provide an in-text cita on and a reference for each of the areas I have highlighted. When this is done, it is supposed to indicate paraphrased
informa on. The informa on you provide before the in-text cita on is directly copied from a source. When you use a direct quote, you need to iden fy
all of the words that are not your own by including quota on marks around the material if under 40 words, or by using block style wri ng if over 40
words. Please see the a achment for specific sec ons and comments.
Sincerely,
Erik Johnson/ Academic Integrity Administrator
Ashford University / Academic Integrity Department
///////////////////////////////////////////////////////////////////////////
Cc Bcc
To Johnson, ErikJE
Draft saved at 1:16 PMSend Discard
Send Attach Protect Discard
Re: Academic Misconduct Antoinette Harrell ANRILE9989 BUS670 (5/29/2018) https://outlook.live.com/owa/projection.aspx
1 of 2 7/1/18, 1:17 PM
Re: Academic Misconduct Antoinette Harrell ANRILE9989 BUS670 (5/29/2018) https://outlook.live.com/owa/projection.aspx
2 of 2 7/1/18, 1:17 PM
Dr. Molly Stehn
Webster University
COUN 5850
Guiding Questions for Article Review
What was the research question? That is, what were the researchers interested in?
What was the hypothesis?
What literature did they review which allowed the researchers to make this
hypothesis?
What were the characteristics of the research participants?
What was(were) the independent variable(s)?
How was(were) it(they) operationalized?
What was(were) the dependent variable(s)?
How was(were) it(they) operationalized?
Briefly summarize the methodology. What happened to the participants? What
order did things happen in? What, besides the IVs and DVs were special about the
method?
Briefly summarize the results. What were the primary findings?
Did the authors discuss any problems (threats to the validity) with their study?
What concerns did you have about this article and how the research was
conducted?
What implications or applications did the authors make about their findings?
Were there multiple ...
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
Resume
• Real GDP growth slowed down due to problems with access to electricity caused by the destruction of manoeuvrable electricity generation by Russian drones and missiles.
• Exports and imports continued growing due to better logistics through the Ukrainian sea corridor and road. Polish farmers and drivers stopped blocking borders at the end of April.
• In April, both the Tax and Customs Services over-executed the revenue plan. Moreover, the NBU transferred twice the planned profit to the budget.
• The European side approved the Ukraine Plan, which the government adopted to determine indicators for the Ukraine Facility. That approval will allow Ukraine to receive a EUR 1.9 bn loan from the EU in May. At the same time, the EU provided Ukraine with a EUR 1.5 bn loan in April, as the government fulfilled five indicators under the Ukraine Plan.
• The USA has finally approved an aid package for Ukraine, which includes USD 7.8 bn of budget support; however, the conditions and timing of the assistance are still unknown.
• As in March, annual consumer inflation amounted to 3.2% yoy in April.
• At the April monetary policy meeting, the NBU again reduced the key policy rate from 14.5% to 13.5% per annum.
• Over the past four weeks, the hryvnia exchange rate has stabilized in the UAH 39-40 per USD range.
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how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
how to sell pi coins at high rate quickly.DOT TECH
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
5. • A contract is a voluntary arrangement between two
or more parties that is enforceable at law as a
binding legal agreement.
• Contract is a branch of the law of obligations in
jurisdictions of the civil law tradition.
6. • As Hart said ,
"Contracts are just an incredibly
powerful way of thinking about
parts of economics. ... Both sides
have an incentive to construct the
transaction [so that] it generates
the greatest value."
7. Contract theory
•contract theory studies how economic actors can and do construct
contractual arrangements, generally in the presence of asymmetric
information.
• In the field of economics, the first formal treatment of this topic was
given by Kenneth Arrow in the 1960s.
8. Kenneth Arrow
• Kenneth Joseph "Ken"
Arrow (born August 23,
1921) is an American
economist, writer, and
political theorist. He is
the joint winner of
the Nobel Memorial Prize
in Economics with John
Hicks in 1972. To date, he
is the youngest person to
have received this award,
at 51.
9. • A standard practice in the microeconomics of contract
theory is to represent the behavior of a decision maker
under certain numerical utility structures, and then apply
an optimization algorithm to identify optimal decisions.
• The spirit of these models lies in finding theoretical ways
to motivate agents to take appropriate actions.
Contract theoryContract theory
10. Main models of agency problems
Moral hazard
In moral hazard models, the information
asymmetry is the principal's inability to observe
and/or verify the agent's action. Performance-
based contracts that depend on observable and
verifiable output can often be employed to
create incentives for the agent to act in the
principal's interest.
11. Adverse selection
In adverse selection models, the principal is not informed about a certain
characteristic of the agent at the time the contract is written. The characteristic
is called the agent's "type".
For example, health insurance is more likely to be purchased by people who are
more likely to get sick. In this case, the agent's type is his or her health status,
which is privately known by the agent.
Another prominent example is public procurement contracting: The government
agency (the principal) does not know the private firm's cost. In this case, the
private firm is the agent and the agent's type is the cost level.
12. Incomplete contracts
Contract theory also utilizes the notion of a complete contract,
which is thought of as a contract that specifies the legal
consequences of every possible state of the world.
More recent developments known as the theory of incomplete
contracts, pioneered by Oliver Hart and his coauthors, study the
incentive effects of parties' inability to write complete contingent
contracts, e.g. concerning relationship-specific investments
13. Implications for the real world
Contract theory identifies a variety of obstacles to
cooperation and suggests which contracts are best
suited to overcome them.
It offers explanations for contracts that are commonly
written and for finding suitable contractual solutions
to new problems.
14. Applying contract theory to property rights helps
us understand the costs and benefits of
privatisation and public versus private ownership.
Perhaps the greatest application of the subject is
in corporate finance where contracts are designed
in a manner to ensure that entrepreneurs and
managers act in the interests of investors.
15. Understanding contracts does not only have
implications in the financial domain for understanding
bankruptcy reforms and investor rights, but has wider
implications for governance.
In a typical employment transaction, the employer
offers a wage and the employee agrees to accept the
employer's directions in return.
16. Conclusion….
Contract theory provides us with a general means of understanding
contract design.
One of the theory’s goals is to explain why contracts have various forms
and designs.
Another goal is to help us work out how to draw up better contracts,
thereby shaping better institutions in society.
Should providers of public services, such as schools, hospitals, or prisons,
be publicly or privately owned?
Should teachers, healthcare workers, and prison guards be paid fixed
salaries or should their pay be performance-based?
17. To what extent should managers be paid through bonus
programmes or stock options?
Contract theory does not necessarily provide definitive
or unique answers to these questions. However, the
power of the theory is that it enables us to think clearly
about the issues involved and help us understand the
potential pitfalls when designing new contracts.
18. The theory determines how a worker-employer
or customer-company contract can best be
mutually beneficial, avoiding conflicts and
negative consequences.
Through their initial contributions, Hart and
Holmstrom launched contract theory as a fertile
field of basic research.
19. The Royal Swedish Academy said.
"Over the last few decades, they have also explored many of its
applications. Their analysis of optimal contractual
arrangements lays an intellectual foundation for designing
policies and institutions in many areas, from bankruptcy
legislation to political constitutions."
