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From an economic perspective, contract theory studies how economic actors can and do construct contractual arrangements, generally in the presence of information asymmetry. Because of its connections with both agency and incentives , contract theory is often categorized within a field known as law and economics .
Today (also called The Today Show) is an American morning television show that airs weekdays from 7:00 a.m. to 11:00 a.m. on NBC.The program debuted on January 14, 1952. It was the first of its genre on American television and in the world, and after 73 years of broadcasting it is fifth on the list of longest-running American television serie
In economic theory, the field of contract theory can be subdivided in the theory of complete contracts and the theory of incomplete contracts. In contract law, an incomplete contract is one that is defective or uncertain in a material respect. A complete contract in economic theory means a contract which provides for the rights, obligations and ...
Richard Theodore Ely (April 13, 1854 – October 4, 1943) was an American economist, author, and leader of the Progressive movement who called for more government intervention to reform what they perceived as the injustices of capitalism, especially regarding factory conditions, compulsory education, child labor, and labor unions.
Law and economics, or economic analysis of law, is the application of microeconomic theory to the analysis of law. The field emerged in the United States during the early 1960s, primarily from the work of scholars from the Chicago school of economics such as Aaron Director , George Stigler , and Ronald Coase .
Benjamin Jeremy Stein (born November 25, 1944) is an American writer, lawyer, actor, comedian, and commentator on political and economic issues. He began his career as a speechwriter for U.S. presidents Richard Nixon and Gerald Ford before entering the entertainment field as an actor, comedian, and game show host.
Contract failure describes a situation in which the consumer of a good or service is unable to evaluate its quality, thus incentivizing the producer to produce a lower quality good or service. [1] Such behavior creates suboptimal economic conditions. [ 2 ]
According to economic norms theory, the people in contract-rich nations enjoy a permanent and positive peace. As long as their states accede to popular demands and remain reliably impartial, individuals in nations with contract intensive economies have an interest in everyone’s rights and material welfare, within and outside the nation.