Social Norms, Bounded Rationality and Optimal Contracts

By:

Suren Basov

Format:

Paperback / softback

Series:

Studies in Economic Theory

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Description

This book investigates the ways in which social norms and bounded rationality shape different contracts in the real world. It brings into focus existing research into optimal contracts, draws important lessons from that research, and outlines prospects for future investigation. Bounded rationality has acknowledged effects on the power of incentive provisions, such as deviations from sufficient statistic theorem, the power of optimal incentives, and the effects of optimal contracts in multicultural environments. The introduction of social norms to bounded rationality opens up new avenues of investigation into contracts and mechanism design. This book makes an important contribution to the study of bounded rationality by pulling together many separate strands of research in the area of mechanism design, and providing detailed analysis of the impact of societal values on contracts.

Author Biography:

Suren Basov is a visitor to the Centre for Economics and Financial Econometrics at Deakin University, Australia. His research interests lie in the areas of mechanism design, with a particular emphasis on multidimensional screening models, the theory of bounded rationality, and evolutionary game theory. He also does research in the areas of directed search and unemployment, and incentive provision within clubs, with a particular application to Islamic finance.

Release date Australia

June 7th, 2018

Author

Suren Basov

Series

Studies in Economic Theory

Pages

176

Edition

Softcover reprint of the original 1st ed. 2016

Audience

Professional & Vocational

Illustrations

IX, 176 p.

Dimensions

156x234x10

ISBN-13

9789811093135

Product ID

28218241

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Social Norms, Bounded Rationality and Optimal Contracts

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