Economics, Organization and Management

by Milgrom, Paul; Roberts, John

• ISBN13: 9780132246507
• ISBN10: 0132246503
• Edition: 1st
• Format: Paperback
• Copyright: 1992-02-01
• Publisher: Pearson

Summary

A systematic treatment of the economics of the modern firm, this book draws on the insights of a variety of areas in modern economics and other disciplines, but presents a coherent, consistent, innovative treatment of the central problems in organizations of motivating people and coordinating their activities.KEY TOPICS:Introduces the fundamental problems organizations encounter and explains why they occur. Discusses a number of patterns of response showing why organizations are structured as they are, why they adopt the policies they do, and how they solve organizational problems themselves.

Author Biography

Paul Milgrom, Professor of Economics at Stanford University, has previously taught at Northwestern University's Kellogg Graduate School of Management and at Yale University in the School of Organization and Management and the Department of Economics. He was also the Ford Visiting Professor at the economics department of the University of California, Berkeley. He is the founding director of the Stanford Institute for Theoretical Economics. John Roberts is the Jonathan B. Lovelace Professor of Economics in the Graduate School of Business at Stanford University. He formerly taught at the Kellogg Graduate School of Management at Northwestern University and has served as associate dean of Stanford's business school. He has been the Bass Faculty Fellow at Stanford and a visiting researcher at the Center for Operations Research and Econometrics of the University of Louvain, the Center for Advanced Studies in Jerusalem, and the University of California, Berkeley.

Table of Contents

I. THE CONCEPTUAL FRAMEWORK.

1. Does Organization Matter?
2. Economic Organization and Efficiency.

II. THEORIES OF COORDINATION AND MOTIVATION.

3. Using Prices for Coordination and Motivation.
4. Coordinating Plans and Actions.
5. Incentives and Motivation.
6. Moral Hazard.
7. Risk Sharing and Incentive Contracts.
8. Rents and Efficiency.

III. COORDINATION, MOTIVATION, AND MANAGEMENT.

9. Ownership and Property Rights.
10. Employment Policy and Human-Resource Management.
11. Internal Labor Markets, Job Assignments, and Promotions.
12. Compensation and Motivation.
13. Executive and Managerial Compensation.

IV. DESIGNING AND CHOOSING ORGANIZATIONAL FORMS.

14. The Classical Theory of Investments and Finance.
15. Financial Structure, Ownership, and Corporate Control.
16. The Boundaries and Structure of the Firm.
Glossary.
Author and Subject Indexes.