scholarly journals Relational Contracts with Private Information on the Future Value of the Relationship: The Upside of Implicit Downsizing Costs

2017 ◽  
Author(s):  
Matthias Fahn ◽  
Nicolas A. Klein
Keyword(s):  
Private Information ◽  
Relational Contracts ◽  
The Future ◽  
Future Value ◽  
The Relationship

scholarly journals Relational Contracts with Private Information on the Future Value of the Relationship: The Upside of Implicit Downsizing Costs

2019 ◽  
Vol 11 (4) ◽  
pp. 33-58
Author(s):  
Matthias Fahn ◽  
Nicolas Klein
Keyword(s):  
Private Information ◽  
Alternative Explanation ◽  
Relational Contracts ◽  
Truth Telling ◽  
Relational Contract ◽  
Bonus Payments ◽  
The Future ◽  
Short Run ◽  
Future Value ◽  
The Relationship

We analyze a relational-contracting problem, in which the principal has private information about the future value of the relationship. In order to reduce bonus payments, the principal is tempted to claim that the value of the future relationship is lower than it actually is. To induce truth-telling, the optimal relational contract may introduce distortions after a bad report. For some levels of the discount factor, output is reduced by more than would be sequentially optimal. This distortion is attenuated over time even if prospects remain bad. Our model thus provides an alternative explanation for indirect short-run costs of downsizing. (JEL D23, D82, D86)

Relational Contracts and the Value of Relationships

2012 ◽  
Vol 102 (2) ◽  
pp. 750-779 ◽  
Author(s):  
Marina Halac
Keyword(s):  
Private Information ◽  
Bargaining Power ◽  
Principal Agent ◽  
Relational Contracts ◽  
Outside Option ◽  
The Relationship

This article studies optimal relational contracts when the value of the relationship between contracting parties is not commonly known. I consider a principal-agent setting where the principal has persistent private information about her outside option. I show that if the principal has the bargaining power, she wants to understate her outside option to provide strong incentives and then renege on promised payments, while if the uninformed agent has the bargaining power, the principal wants to overstate her outside option to capture more surplus. I characterize how information is revealed, how the relationship evolves, and how this depends on bargaining power. (JEL C78, D82, D83, D86)

A Meta-Analysis of Interviews and Cognitive Ability

2013 ◽  
Vol 12 (4) ◽  
pp. 157-169 ◽  
Author(s):  
Philip L. Roth ◽  
Allen I. Huffcutt
Keyword(s):  
Cognitive Ability ◽  
Meta Analysis ◽  
Incremental Validity ◽  
Employment Interviews ◽  
Moderator Analysis ◽  
The Future ◽  
Research Questions ◽  
Meta Analyses ◽  
The Relationship

The topic of what interviews measure has received a great deal of attention over the years. One line of research has investigated the relationship between interviews and the construct of cognitive ability. A previous meta-analysis reported an overall corrected correlation of .40 ( Huffcutt, Roth, & McDaniel, 1996 ). A more recent meta-analysis reported a noticeably lower corrected correlation of .27 ( Berry, Sackett, & Landers, 2007 ). After reviewing both meta-analyses, it appears that the two studies posed different research questions. Further, there were a number of coding judgments in Berry et al. that merit review, and there was no moderator analysis for educational versus employment interviews. As a result, we reanalyzed the work by Berry et al. and found a corrected correlation of .42 for employment interviews (.15 higher than Berry et al., a 56% increase). Further, educational interviews were associated with a corrected correlation of .21, supporting their influence as a moderator. We suggest a better estimate of the correlation between employment interviews and cognitive ability is .42, and this takes us “back to the future” in that the better overall estimate of the employment interviews – cognitive ability relationship is roughly .40. This difference has implications for what is being measured by interviews and their incremental validity.

Using the alveograph in developing requirements for the quality of flour for wafer sheet production

2020 ◽  
Vol 29 (12) ◽  
pp. 52-58
Author(s):  
E.P. Meleshkina ◽  
◽  
S.N. Kolomiets ◽  
A.S. Cheskidova ◽  
◽  
...  
Keyword(s):  
Rheological Properties ◽  
Quality Indicators ◽  
Wheat Flour ◽  
Mathematical Statistics ◽  
Intended Purpose ◽  
The Future ◽  
Relationship Of ◽  
The Relationship

Objectively and reliably determined indicators of rheological properties of the dough were identified using the alveograph device to create a system of classifications of wheat and flour from it for the intended purpose in the future. The analysis of the relationship of standardized quality indicators, as well as newly developed indicators for identifying them, differentiating the quality of wheat flour for the intended purpose, i.e. for finished products. To do this, we use mathematical statistics methods.

Editor’s Pick: Regulatory and Ethical Issues in the New Era of Radiomics and Radiogenomics

EMJ Radiology ◽  
2020 ◽  
Author(s):  
Filippo Pesapane
Keyword(s):  
Ethical Issues ◽  
Medical Images ◽  
Practical Significance ◽  
Innovative Technology ◽  
New Era ◽  
Naked Eye ◽  
Disease Characteristics ◽  
The Future ◽  
Using Data ◽  
The Relationship

Radiomics is a science that investigates a large number of features from medical images using data-characterisation algorithms, with the aim to analyse disease characteristics that are indistinguishable to the naked eye. Radiogenomics attempts to establish and examine the relationship between tumour genomic characteristics and their radiologic appearance. Although there is certainly a lot to learn from these relationships, one could ask the question: what is the practical significance of radiogenomic discoveries? This increasing interest in such applications inevitably raises numerous legal and ethical questions. In an environment such as the technology field, which changes quickly and unpredictably, regulations need to be timely in order to be relevant.  In this paper, issues that must be solved to make the future applications of this innovative technology safe and useful are analysed.

Smart Estimation Ver-H.1.0

2018 ◽  
Author(s):  
Sigit Haryadi
Keyword(s):  
Sample Size ◽  
Confidence Level ◽  
Time Span ◽  
Regression Equation ◽  
Weight Factor ◽  
The Past ◽  
Level Of Confidence ◽  
The Future ◽  
Future Value ◽  
The Difference

We cannot be sure exactly what will happen, we can only estimate by using a particular method, where each method must have the formula to create a regression equation and a formula to calculate the confidence level of the estimated value. This paper conveys a method of estimating the future values, in which the formula for creating a regression equation is based on the assumption that the future value will depend on the difference of the past values divided by a weight factor which corresponding to the time span to the present, and the formula for calculating the level of confidence is to use "the Haryadi Index". The advantage of this method is to remain accurate regardless of the sample size and may ignore the past value that is considered irrelevant.

Relationship Ending in the Concept of Customer Relationship Management

2015 ◽  
Vol 10 (2) ◽  
pp. 103-113
Author(s):  
Ewa Hajduk-Kasprowicz ◽  
Lech Nieżurawski
Keyword(s):  
Customer Relationship Management ◽  
Relationship Management ◽  
Professional Services ◽  
Customer Relationship ◽  
Modern Literature ◽  
Relationship Dissolution ◽  
Business Relationships ◽  
Efficient Management ◽  
The Future ◽  
The Relationship

The paper discusses the problems of fading and ending of business relationships in the sphere of professional services i.e. the phase of a relationship dissolution resulting from a client's or a firm's decision to end it. This phase includes, among others, determining the causes of the relationship dissolution and drawing conclusions for the future in order to prevent losing the most lucrative clients. Both in theory and in practice, relationship ending is perceived as something stretched in time i.e. consisting of numerous stages and influenced by numerous factors and events.The aim of the present paper is an analysis of the modern literature on the causes and mechanisms of business relationships termination in the sphere of professional services as well as indicating some possibilities of a more effective and efficient management of these relations. 

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