Contract theory

PATRICK AUTOR BOLTON, MATHIAS AUTOR DEWATRIPONT

MIT Press, 2005 - Business & Economics - 724 pages

Despite the vast research literature on topics relating to contract theory, only afew of the field's core ideas are covered in microeconomics textbooks. This long-awaited book fillsthe need for a comprehensive textbook on contract theory suitable for use at the graduate andadvanced undergraduate levels. It covers the areas of agency theory, information economics, andorganization theory, highlighting common themes and methodologies and presenting the main ideas inan accessible way. It also presents many applications in all areas of economics, especially laboreconomics, industrial organization, and corporate finance. The book emphasizes applications ratherthan general theorems while providing self-contained, intuitive treatment of the simple modelsanalyzed. In this way, it can also serve as a reference for researchers interested in buildingcontract-theoretic models in applied contexts.The book covers all the major topics in contracttheory taught in most graduate courses. It begins by discussing such basic ideas in incentive andinformation theory as screening, signaling, and moral hazard. Subsequent sections treat multilateralcontracting with private information or hidden actions, covering auction theory, bilateral tradeunder private information, and the theory of the internal organization of firms; long-term contractswith private information or hidden actions; and incomplete contracts, the theory of ownership andcontrol, and contracting with externalities. Each chapter ends with a guide to the relevantliterature. Exercises appear in a separate chapter at the end of the book.

Preview this book »

What people are saying - Write a review

We haven't found any reviews in the usual places.

Related books

The Theory of Incentives: The Principal-Agent Model

Jean-Jacques Laffont,David Martimort
Limited preview - 2009

The Economics of Contracts: A Primer

Bernard Salani�
Limited preview - 1997

A theory of incentives in procurement and regulation

Limited preview - 1993

All related books »

II	1

III	4

IV	7

V	8

VI	11

VII	14

VIII	15

IX	20

CXXIV	320

CXXV	326

CXXVII	328

CXXVIII	331

CXXIX	332

CXXX	333

CXXXI	338

CXXXIII	342

X	25

XI	26

XII	27

XIII	30

XIV	31

XV	34

XVI	36

XVII	37

XVIII	39

XIX	40

XX	42

XXI	45

XXII	47

XXIV	48

XXV	49

XXVII	57

XXVIII	62

XXIX	67

XXXI	74

XXXII	77

XXXIV	81

XXXV	82

XXXVI	83

XXXVII	88

XXXVIII	93

XXXIX	96

XL	99

XLI	100

XLII	107

XLIV	110

XLV	112

XLVI	113

XLVII	120

XLVIII	125

XLIX	129

L	132

LI	133

LII	135

LIII	136

LIV	137

LV	139

LVI	142

LVII	148

LVIII	152

LIX	157

LXI	162

LXII	168

LXIII	169

LXIV	171

LXV	174

LXVI	175

LXVII	176

LXVIII	178

LXIX	179

LXX	180

LXXI	181

LXXII	184

LXXIII	185

LXXIV	186

LXXV	190

LXXVI	197

LXXVII	199

LXXIX	200

LXXX	201

LXXXI	204

LXXXII	208

LXXXIII	211

LXXXIV	213

LXXXV	214

LXXXVI	216

LXXXVII	218

LXXXVIII	223

LXXXIX	228

XC	230

XCI	231

XCII	233

XCIII	237

XCIV	239

XCV	243

XCVI	245

XCVII	248

XCVIII	250

C	255

CI	259

CII	261

CIII	262

CIV	265

CV	267

CVI	271

CVII	276

CVIII	278

CIX	280

CX	282

CXI	283

CXII	285

CXIII	288

CXIV	290

CXV	292

CXVI	294

CXVII	297

CXVIII	299

CXIX	301

CXX	305

CXXI	311

CXXII	316

CXXXIV	344

CXXXV	351

CXXXVI	360

CXXXVII	362

CXXXVIII	365

CXXXIX	367

CXLI	369

CXLII	371

CXLIII	373

CXLIV	375

CXLV	377

CXLVI	379

CXLVII	380

CXLVIII	381

CXLIX	384

CLI	385

CLII	387

CLIII	388

CLIV	389

CLV	390

CLVI	394

CLVII	396

CLVIII	397

CLIX	402

CLX	408

CLXI	415

CLXII	419

CLXIII	420

CLXIV	422

CLXV	426

CLXVI	429

CLXVII	431

CLXVIII	433

CLXIX	434

CLXX	435

CLXXI	436

CLXXIII	437

CLXXIV	441

CLXXV	447

CLXXVI	450

CLXXVIII	456

CLXXIX	458

CLXXX	459

CLXXXI	461

CLXXXII	468

CLXXXIII	470

CLXXXV	473

CLXXXVI	475

CLXXXVII	481

CLXXXVIII	483

CLXXXIX	484

CXC	487

CXCI	489

CXCII	490

CXCIII	491

CXCIV	498

CXCV	500

CXCVI	515

CXCVIII	521

CC	523

CCI	534

CCIII	536

CCIV	540

CCV	542

CCVI	546

CCVII	549

CCVIII	551

CCIX	553

CCX	555

CCXI	558

CCXII	560

CCXIII	563

CCXIV	566

CCXV	567

CCXVI	569

CCXVII	570

CCXVIII	572

CCXIX	574

CCXXI	577

CCXXII	578

CCXXIII	579

CCXXIV	582

CCXXV	585

CCXXVI	588

CCXXVII	591

CCXXVIII	594

CCXXIX	597

CCXXX	601

CCXXXII	602

CCXXXIII	604

CCXXXIV	608

CCXXXV	611

CCXXXVI	614

CCXXXVIII	617

CCXXXIX	620

CCXL	623

CCXLI	628

CCXLII	630

CCXLIII	636

CCXLIV	641

CCXLV	647

CCXLVI	687

CCXLVII	709

CCXLVIII	715

Copyright

Common terms and phrases

action choice adverse selection agent allocation analysis assets assume assumption asymmetric information audit bidder bilateral buyer cash flow Chapter choose commit compensation consider consumer contracting parties contracting problem cost denote disclosure distribution effort level employee English auction entrepreneur ex post efficient example expected payoff expected revenue financing firm firm's first-best first-order conditions given Holmstrom implementation incentive compatibility incentive constraints incentive scheme individual induce inefficient informational rent initial contract investment investor manager Maskin maximize moral hazard Nash equilibrium observable obtain offer optimal contract outcome output ownership participation constraints payment period principal principal-agent problem principal's private information probability profits realized renegotiation renegotiation-proof repayment result revelation principle risk averse risk neutral risk-neutral second-best seller Shapley value signal simple solution specify strategy surplus theory tion Tirole tract trade two-part tariff utility function valuation Vickrey auction wage widget zero

Popular passages

Page 688 - The impact of initiating dividend payments on shareholders' wealth, Journal of Business 56, 77-95.‎

Appears in 42 books from 1911-2007

References to this book

From other books

Democratic Politics in the European Parliament

Simon Hix,Abdul G. Noury,G�rard Roland
Limited preview - 2007

Finanzvertr�ge und Finanzintermediation: Grundlagen - Modelle - �bungen

Diemo Dietrich,Uwe Vollmer
No preview available - 2005

All Book Search results »

From Google Scholar

Trade, FDI, and the Organization of Firms

Elhanan Helpman - 2006 - Journal of Economic Literature

Contracts as Reference Points*

Oliver Hart, John Moore - 2008 - Quarterly Journal of Economics

An Analysis of Shareholder Agreements

Gilles Chemla, Michel A Habib, Alexander Ljungqvist - 2007 - Journal of the European Economic Association

Long-Term Contracting with Markovian Consumers

Marco Battaglini - 2005 - American Economic Review

All Scholar search results »

References from web pages

Contract Theory - The MIT Press
A comprehensive introduction to contract theory, emphasizing common themes and methodologies as well as applications in key areas.
mitpress.mit.edu/ catalog/ item/ default.asp?ttype=2& tid=10275

1 Contract Theory Patrick Bolton � Mathias Dewatripont Oslo ...
contract theory through the use of a number of key real-world applications. ... Bolton, P. and M. Dewatripont (2005), Contract Theory, chapter 4: Moral ...
folk.uio.no/ tarjeiha/ phd/ contracts-oslo-2006.pdf

Contract theory - Wikipedia, the free encyclopedia
In economics, contract theory studies how economic actors can and do construct contractual arrangements, generally in the presence of asymmetric information ...
en.wikipedia.org/ wiki/ Contract_theory

Advanced Microeconomic Theory I (Part II: Contract Theory)
The course provides a thorough introduction to contract theory, in particular, ... Bolton, Patrick and Mathias Dewatripont (2005): Contract Theory. ...
www.wiwi.uni-frankfurt.de/ phd/ Course%20and%20Workshop%20Details/ Sample%20Syllabi/ phd-laux-edited.pdf

contract theory: Information and Much More from Answers.com
contract theory This article is about the economic analysis of contracts. For legal definitions and contract law, see Contract.
www.answers.com/ topic/ contract-theory

ANNOUNCEMENTS 2000 NORTH AMERICAN WINTER MEETING OF THE ...
Growth theory; industrial organization; contract theory. Yacine Ait-Sahalia ... Contract theory; organization theory; comparative institutional analysis ...
www.blackwell-synergy.com/ doi/ pdf/ 10.1111/ 1468-0262.t01-1-00076

Columbia Business School Directory : Detail : Bolton
His research and areas of interest are in contract theory and contracting issues in ... He recently published his first book, Contract Theory, with Mathias ...
www0.gsb.columbia.edu/ whoswho/ bio.cfm?ID=56613

CURRICULUM VITAE
DFG International Summer School (Oberwesel, Germany), �Contract Theory� (taught with ... University of Oslo (Norway), �Contract Theory� (taught with Patrick ...
www.ecare.ulb.ac.be/ ecare/ people/ members/ dewatripont/ cvmatias.pdf

Contract Theory[经济中国论坛] -- Powered By Dvbbs.net,2008-4-9 19 ...
"Contract Theory is certainly the most important textbook on the frontiers of microeconomics since Tirole's celebrated Theory of Industrial Organization. ...
bbs.econchina.org.cn/ bbs/ dispbbs.asp?boardID=12& ID=3442& page=8

JOEL SHAPIRO
Ministerio de Educaci�n y Ciencia grant (Referencia BEC2000-1026), for Contract Theory and. Institutional Design (Xavier Calsamiglia, project head), ...
www.econ.upf.es/ docs/ cvs/ p2074.pdf

About the author (2005)

Mathias Dewatripont is Professor at the Universite Libre de Bruxelles, a Research Fellow at its European Centre for Advanced Research in Economics and Statistics (ECARES), and Research Director of the London-based Centre for Economic Policy Research (CEPR).

Bibliographic information

Title	Contract theory
Authors	PATRICK AUTOR BOLTON, MATHIAS AUTOR DEWATRIPONT
Edition	illustrated
Publisher	MIT Press, 2005
ISBN	0262025760, 9780262025768
Length	724 pages
Subjects	Business & Economics › Economics › Theory Business & Economics / Economics / Microeconomics Business & Economics / Economics / Theory

Export Citation	BiBTeX EndNote RefMan

About Google Books - Privacy Policy - Terms of Service - Blog - Information for Publishers - Report an issue - Help - Sitemap - Google Home