How Long to Read Incentives and Political Economy

How Long Does it Take to Read Incentives and Political Economy?

It takes the average reader 4 hours and 30 minutes to read Incentives and Political Economy by Jean-Jacques Laffont

Assuming a reading speed of 250 words per minute. Learn more

Description

Mainstream economics has recognized only recently the necessity to incorporate political constraints into economic analysis intended for policy advisors. Incentives and Political Economy uses recent advances in contract theory to build a normative approach to constitutional design in economic environments.The first part of the book remains in the tradition of benevolent constitutional design with complete contracting. It treats politicians as informed supervisors and studies how the Constitution should control them, in particular to avoid capture by interest groups. Incentive theories for the separation of powers or systems of checks and balances are developed.The second part of the book recognises the incompleteness of the constitutional contract which leaves discretion to the politicans selected by the electoral process. Asymmetric information associates information rents with economic policies and the political game becomes a game of costly redistribution of those rents. Professor Laffont investigates the trade-offs between an inflexible constitution which leaves little discretion to politicians but sacrifices ex post efficiency and a constitutionweighted towards ex post efficiency but also giving considerable discretion to politicians to pursue private agendas.The final part of the book reconsiders the modeling of collusion given asymmetric information. It proposes a new approach to characterizing incentives constraints for group behaviour when asymmetric information is non-verifiable. This provides a methodology to characterise the optimal constitutional response to activities of interest groups and to study the design of any institution in which group behavior is important.

How long is Incentives and Political Economy?

Incentives and Political Economy by Jean-Jacques Laffont is 270 pages long, and a total of 67,500 words.

This makes it 91% the length of the average book. It also has 82% more words than the average book.

How Long Does it Take to Read Incentives and Political Economy Aloud?

The average oral reading speed is 183 words per minute. This means it takes 6 hours and 8 minutes to read Incentives and Political Economy aloud.

What Reading Level is Incentives and Political Economy?

Incentives and Political Economy is suitable for students ages 12 and up.

Note that there may be other factors that effect this rating besides length that are not factored in on this page. This may include things like complex language or sensitive topics not suitable for students of certain ages.

When deciding what to show young students always use your best judgement and consult a professional.

Where Can I Buy Incentives and Political Economy?

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