Universität Wien
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040800 UK Theory of Incentives (2010W)

6.00 ECTS (3.00 SWS), SPL 4 - Wirtschaftswissenschaften
Prüfungsimmanente Lehrveranstaltung

There will be no class from October 24 to November 23, 2010.

An/Abmeldung

Hinweis: Ihr Anmeldezeitpunkt innerhalb der Frist hat keine Auswirkungen auf die Platzvergabe (kein "first come, first served").

Details

max. 50 Teilnehmer*innen
Sprache: Englisch

Lehrende

Termine (iCal) - nächster Termin ist mit N markiert

  • Mittwoch 06.10. 16:00 - 18:00 (Seminarraum 1 Hohenstaufengasse 9 1.Stock)
  • Freitag 08.10. 13:00 - 15:00 (Seminarraum 1 Hohenstaufengasse 9 1.Stock)
  • Mittwoch 13.10. 12:00 - 14:00 (Seminarraum 1 Hohenstaufengasse 9 1.Stock)
  • Mittwoch 20.10. 12:00 - 14:00 (Seminarraum 1 Hohenstaufengasse 9 1.Stock)
  • Mittwoch 20.10. 16:00 - 18:00 (Seminarraum 1 Hohenstaufengasse 9 1.Stock)
  • Freitag 22.10. 13:00 - 15:00 (Seminarraum 1 Hohenstaufengasse 9 1.Stock)
  • Mittwoch 24.11. 16:00 - 18:00 (Seminarraum 1 Hohenstaufengasse 9 1.Stock)
  • Freitag 26.11. 13:00 - 15:00 (Seminarraum 1 Hohenstaufengasse 9 1.Stock)
  • Mittwoch 01.12. 16:00 - 18:00 (Seminarraum 1 Hohenstaufengasse 9 1.Stock)
  • Freitag 03.12. 13:00 - 15:00 (Seminarraum 1 Hohenstaufengasse 9 1.Stock)
  • Freitag 10.12. 13:00 - 15:00 (Seminarraum 1 Hohenstaufengasse 9 1.Stock)
  • Mittwoch 15.12. 16:00 - 18:00 (Seminarraum 1 Hohenstaufengasse 9 1.Stock)
  • Freitag 17.12. 13:00 - 15:00 (Seminarraum 1 Hohenstaufengasse 9 1.Stock)
  • Mittwoch 12.01. 16:00 - 20:00 (Seminarraum 1 Hohenstaufengasse 9 1.Stock)
  • Freitag 14.01. 13:00 - 15:00 (Seminarraum 1 Hohenstaufengasse 9 1.Stock)
  • Mittwoch 19.01. 16:00 - 18:00 (Seminarraum 1 Hohenstaufengasse 9 1.Stock)
  • Freitag 21.01. 13:00 - 15:00 (Seminarraum 1 Hohenstaufengasse 9 1.Stock)
  • Mittwoch 26.01. 16:00 - 18:00 (Seminarraum 1 Hohenstaufengasse 9 1.Stock)
  • Freitag 28.01. 13:00 - 15:00 (Seminarraum 1 Hohenstaufengasse 9 1.Stock)

Information

Ziele, Inhalte und Methode der Lehrveranstaltung

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.

Art der Leistungskontrolle und erlaubte Hilfsmittel

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%)

Mindestanforderungen und Beurteilungsmaßstab

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.

Prüfungsstoff

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.

Literatur

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.

Zuordnung im Vorlesungsverzeichnis

Letzte Änderung: Mo 07.09.2020 15:29