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Books > Law > Laws of other jurisdictions & general law > Private, property, family law > Contract law
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Contract Theory (Hardcover, New)
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Contract Theory (Hardcover, New)
Series: Contract Theory
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A comprehensive introduction to contract theory, emphasizing common
themes and methodologies as well as applications in key areas.
Despite the vast research literature on topics relating to contract
theory, only a few of the field's core ideas are covered in
microeconomics textbooks. This long-awaited book fills the need for
a comprehensive textbook on contract theory suitable for use at the
graduate and advanced undergraduate levels. It covers the areas of
agency theory, information economics, and organization theory,
highlighting common themes and methodologies and presenting the
main ideas in an accessible way. It also presents many applications
in all areas of economics, especially labor economics, industrial
organization, and corporate finance. The book emphasizes
applications rather than general theorems while providing
self-contained, intuitive treatment of the simple models analyzed.
In this way, it can also serve as a reference for researchers
interested in building contract-theoretic models in applied
contexts.The book covers all the major topics in contract theory
taught in most graduate courses. It begins by discussing such basic
ideas in incentive and information theory as screening, signaling,
and moral hazard. Subsequent sections treat multilateral
contracting with private information or hidden actions, covering
auction theory, bilateral trade under private information, and the
theory of the internal organization of firms; long-term contracts
with private information or hidden actions; and incomplete
contracts, the theory of ownership and control, and contracting
with externalities. Each chapter ends with a guide to the relevant
literature. Exercises appear in a separate chapter at the end of
the book.
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