Document Type
Dissertation
Date of Award
1975
Keywords
Incentives in industry, Mathematical models
Degree Name
Doctor of Philosophy (PhD)
Department
Economics
First Advisor
E. Odgers Olsen
Second Advisor
Alfred B. Carlip
Third Advisor
Kenneth V. Greene
Abstract
This dissertation is an investigation into the relationship between the way in which factors of production are rewarded and the nature of the firm. A model of rewards is developed embodying risk and measurement costs. The problem of rewards to decision-makers under uncertainty is also addressed and a model of an efficient reward scheme is presented. Finally, the question of the incentive effects, both in terms of work effort and efficient decision-making, and the probability distribution of such events as promotions and dismissals is examined. The analysis employed is both discursive and mathematical.
Recommended Citation
Cohen, Lloyd R., "Imperfect knowledge, decisionmaking and the firm: a theoretical investigation of efficient reward schemes" (1975). Graduate Dissertations and Theses. 270.
https://orb.binghamton.edu/dissertation_and_theses/270