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Economic Analysis of Information and Contracts

Essays in Honor of John E. Butterworth

  • Book
  • © 1988

Overview

Editors:
  1. Gerald A. Feltham

    1. University of British Columbia, Canada

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  2. Amin H. Amershi

    1. University of Minnesota, USA

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  3. William T. Ziemba

    1. University of British Columbia, Canada

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Table of contents (14 chapters)

  1. Front Matter

    Pages i-xv
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  2. Introduction

    1. Front Matter

      Pages 1-1
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    2. John E. Butterworth’s Pioneering Contributions to the Accounting and Information Economics Literature

      • Gerald A. Feltham
      Pages 3-16

    3. Introduction to the Research Papers in This Volume

      • Gerald A. Feltham, Amin H. Amershi, William T. Ziemba
      Pages 17-22

  3. Information Evaluation in Multiperson Contexts

    1. Front Matter

      Pages 23-23
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    2. Blackwell Informativeness and Sufficient Statistics with Applications to Financial Markets and Multiperson Agencies

      • Amin H. Amershi
      Pages 25-93

    3. The Social Value of Public Information in Production Economies

      • James A. Ohlson
      Pages 95-119

    4. Costly Public Information: Optimality and Comparative Statics

      • Young K. Kwon, D. Paul Newman
      Pages 121-139

    5. Value of Information in Bimatrix Games

      • Joel S. Demski
      Pages 141-166

  4. Contracting in Agencies Under Moral Hazard

    1. Front Matter

      Pages 167-167
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    2. The Principal/Agent Problem—Numerical Solutions

      • Phelim P. Boyle, John E. Butterworth
      Pages 169-196

    3. Explorations in the Theory of Single- and Multiple-Agent Agencies

      • Amin H. Amershi, John E. Butterworth
      Pages 197-219

    4. Sequential Choice Under Moral Hazard

      • Ella Mae Matsumura
      Pages 221-245

    5. Risk Sharing and Valuation Under Moral Hazard

      • Patricia J. Hughes
      Pages 247-268

  5. Contracting in Agencies with Private Information

    1. Front Matter

      Pages 269-269
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    2. Communication of Private Information in Capital Markets: Contingent Contracts and Verified Reports

      • Gerald A. Feltham, John S. Hughes
      Pages 271-317

    3. Managerial Compensation: Linear-Sharing vs. Bonus-Incentive Plans Under Moral Hazard and Adverse Selection

      • Masako N. Darrough, Neal M. Stoughton
      Pages 319-347

    4. Intrafirm Resource Allocation and Discretionary Actions

      • Ronald A. Dye
      Pages 349-372

    5. Accountants’ Loss Functions and Induced Preferences for Conservatism

      • Rick Antle, Richard A. Lambert
      Pages 373-408

  6. Back Matter

    Pages 409-415
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Keywords

About this book

The three coeditors knew John Butterworth for many years and had worked closely with him on a number of research projects. We respected him as a valuable colleague and friend. We were greatly saddened by his untimely death. This book is an attempt to remember him. We dedicate the volume to John with thanks for the contributions he made to our research, to the Faculty of Commerce and Business Administration at the University of British Columbia, and to the accounting profession. This volume contains twelve invited papers on the general topic of the economic theory of information and contracts. We asked leading scholars who had known John to contribute papers. The response was very gratifying. The authors provided us with new strong research papers that should make a lasting contribution to the accounting and information economics research literature, and make us all proud to have put this volume together. The research papers in the volume are in three sections: information evaluation in multi person conte)l:ts; contracting in agencies under moral hazard; and contracting in agencies with private information. We begin part I with Jerry Feltham's review of John Butterworth's pioneering contributions to the accounting and information economics literature. This is followed by an introduction to the papers in the volume and the papers themselves.

Editors and Affiliations

  • University of British Columbia, Canada

    Gerald A. Feltham, William T. Ziemba

  • University of Minnesota, USA

    Amin H. Amershi

Bibliographic Information

  • Book Title: Economic Analysis of Information and Contracts

  • Book Subtitle: Essays in Honor of John E. Butterworth

  • Editors: Gerald A. Feltham, Amin H. Amershi, William T. Ziemba

  • DOI: https://doi.org/10.1007/978-94-009-2667-7

  • Publisher: Springer Dordrecht

  • eBook Packages: Springer Book Archive

  • Copyright Information: Kluwer Academic Publishers, Boston 1988

  • Hardcover ISBN: 978-0-89838-252-5Published: 30 June 1988

  • Softcover ISBN: 978-94-010-7702-6Published: 13 October 2011

  • eBook ISBN: 978-94-009-2667-7Published: 06 December 2012

  • Edition Number: 1

  • Number of Pages: XVI, 416

  • Topics: Accounting/Auditing, Finance, general

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