040800 UK Theory of Incentives (2010W)
Continuous assessment of course work
Labels
There will be no class from October 24 to November 23, 2010.
Registration/Deregistration
Note: The time of your registration within the registration period has no effect on the allocation of places (no first come, first served).
- Registration is open from We 08.09.2010 09:00 to We 22.09.2010 17:00
- Registration is open from Tu 28.09.2010 09:00 to We 29.09.2010 17:00
- Deregistration possible until Th 14.10.2010 23:59
Details
max. 50 participants
Language: English
Lecturers
Classes (iCal) - next class is marked with N
Wednesday
06.10.
16:00 - 18:00
(Seminarraum 1 Hohenstaufengasse 9 1.Stock)
Friday
08.10.
13:00 - 15:00
(Seminarraum 1 Hohenstaufengasse 9 1.Stock)
Wednesday
13.10.
12:00 - 14:00
(Seminarraum 1 Hohenstaufengasse 9 1.Stock)
Wednesday
20.10.
12:00 - 14:00
(Seminarraum 1 Hohenstaufengasse 9 1.Stock)
Wednesday
20.10.
16:00 - 18:00
(Seminarraum 1 Hohenstaufengasse 9 1.Stock)
Friday
22.10.
13:00 - 15:00
(Seminarraum 1 Hohenstaufengasse 9 1.Stock)
Wednesday
24.11.
16:00 - 18:00
(Seminarraum 1 Hohenstaufengasse 9 1.Stock)
Friday
26.11.
13:00 - 15:00
(Seminarraum 1 Hohenstaufengasse 9 1.Stock)
Wednesday
01.12.
16:00 - 18:00
(Seminarraum 1 Hohenstaufengasse 9 1.Stock)
Friday
03.12.
13:00 - 15:00
(Seminarraum 1 Hohenstaufengasse 9 1.Stock)
Friday
10.12.
13:00 - 15:00
(Seminarraum 1 Hohenstaufengasse 9 1.Stock)
Wednesday
15.12.
16:00 - 18:00
(Seminarraum 1 Hohenstaufengasse 9 1.Stock)
Friday
17.12.
13:00 - 15:00
(Seminarraum 1 Hohenstaufengasse 9 1.Stock)
Wednesday
12.01.
16:00 - 20:00
(Seminarraum 1 Hohenstaufengasse 9 1.Stock)
Friday
14.01.
13:00 - 15:00
(Seminarraum 1 Hohenstaufengasse 9 1.Stock)
Wednesday
19.01.
16:00 - 18:00
(Seminarraum 1 Hohenstaufengasse 9 1.Stock)
Friday
21.01.
13:00 - 15:00
(Seminarraum 1 Hohenstaufengasse 9 1.Stock)
Wednesday
26.01.
16:00 - 18:00
(Seminarraum 1 Hohenstaufengasse 9 1.Stock)
Friday
28.01.
13:00 - 15:00
(Seminarraum 1 Hohenstaufengasse 9 1.Stock)
Information
Aims, contents and method of the course
Standard microeconomic theory treats the firm as a "black box": it remains silent on how the owners of firms succeed in aligning the objectives of its various members (workers, supervisors, managers) with profit maximization. The Theory of Incentives (or Contract Theory) studies situations in which (i) the members of a firm have conflicting objectives, and (ii) information is decentralized (in the sense that the various agents hold private information not observable to others). Its insights are not limited to firms, but also extend to organizations in general, small markets, and any other environment of collective decision-making.
Assessment and permitted materials
Attendance is compulsory. If you miss class for more than three times, you will need a valid excuse. You will have to sit for 2 written exams and prepare a presentation of a research paper of your choice. Your final grade will be calculated as follows:
Mid-term Exam (30%), Student Presentation (30%), Final Exam (40%)
Mid-term Exam (30%), Student Presentation (30%), Final Exam (40%)
Minimum requirements and assessment criteria
The goal is to introduce students to the main issues and methods of modern contract theory. We will start with the so-called Principal-Agent Model, and study the three building blocks of contract theory: Adverse Selection, Moral Hazard, and Signaling. All issues will be illustrated with a number of real-world applications and examples.
Examination topics
The course has a standard lecture part and a hands-on exercises part where students are encouraged to apply the new concepts and techniques to a number of different problems. You will also have to prepare a presentation of a research paper studying the empirical relevance of the issues covered in the theory part of the class.
Reading list
Jean-Jacques Laffont and David Martimort: The Theory of Incentives: The Principal-Agent Model, Princeton University Press, 2002.
Patrick Bolton and Mathias Dewatripont: Contract Theory, Massachusetts Institute of Technology, 2005.
Patrick Bolton and Mathias Dewatripont: Contract Theory, Massachusetts Institute of Technology, 2005.
Association in the course directory
Last modified: Mo 07.09.2020 15:29