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Author: Alexander E. Saak
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
This paper studies the case in which a firm delegates quality control to an independent monitor. In a repeated game, consumers' trust provides incentives to acquire information about whether the good is defective, and withhold defective goods from sale. If third-party reports are observable to consumers, delegation lessens the first and dispenses with the second moral hazard concern but also creates agency costs. Internal quality control is optimal only if trades are sufficiently frequent and consumer information is sufficiently precise. This result holds in the presence of the possibility of collusion, fully non-verifiable presale information, and economies of scale in external quality control.
Author: Alexander E. Saak
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
This paper studies the case in which a firm delegates quality control to an independent monitor. In a repeated game, consumers' trust provides incentives to acquire information about whether the good is defective, and withhold defective goods from sale. If third-party reports are observable to consumers, delegation lessens the first and dispenses with the second moral hazard concern but also creates agency costs. Internal quality control is optimal only if trades are sufficiently frequent and consumer information is sufficiently precise. This result holds in the presence of the possibility of collusion, fully non-verifiable presale information, and economies of scale in external quality control.
Author: Saak, Alexander E.
Publisher: Intl Food Policy Res Inst
ISBN:
Category : Social Science
Languages : en
Pages : 56
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Book Description
This paper studies the decision of a firm that sells an experience good to delegate quality control to an independent monitor. In an infinitely repeated game consumers’ trust provides incentives to (1) acquire information about whether the good is defective and (2) withhold the good from sale if it is defective. If third-party reports are observable to consumers, delegation of monitoring lessens the first and dispenses with the second moral hazard concern but also creates agency costs due to either limited liability or lack of commitment. In equilibrium the firm controls quality without an independent monitor only if trades are sufficiently frequent and consumer information about quality is sufficiently precise. This result holds under different assumptions about feasible contracts, collusion, verifiability of reports, joint inspections, and the number of firms that hire the third-party monitor. If third-party reports are not publicly observed, delegation can be optimal only if two or more firms hire the third-party monitor because then both moral hazard concerns are present under delegation.
Author: Frank Price
Publisher: Gower Publishing Company, Limited
ISBN:
Category : Business & Economics
Languages : en
Pages : 328
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Book Description
Explanation of the importance of Motivation in quality control in manufacturing - examines the concept, basic techniques and the need to integrate quality control in the work organization; examines the role of employees attitude, the impact of delegating responsibility and the benefit derived from an improved systematic control. Graphs, illustrations, references.
Author: Institute of Leadership & Management
Publisher: Routledge
ISBN: 1136411860
Category : Business & Economics
Languages : en
Pages : 108
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Book Description
With forty well-structured and easy to follow topics to choose from, each workbook has a wide range of case studies, questions, and activities to meet both the individual or organization's training needs. Whether studying for an ILM qualification or looking to enhance the skills of your employees, 'Super Series' provides essential solutions, frameworks and techniques to support management and leadership development.
Author: United States Government Accountability Office
Publisher: Lulu.com
ISBN: 0359541828
Category : Reference
Languages : en
Pages : 88
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Book Description
Policymakers and program managers are continually seeking ways to improve accountability in achieving an entity's mission. A key factor in improving accountability in achieving an entity's mission is to implement an effective internal control system. An effective internal control system helps an entity adapt to shifting environments, evolving demands, changing risks, and new priorities. As programs change and entities strive to improve operational processes and implement new technology, management continually evaluates its internal control system so that it is effective and updated when necessary. Section 3512 (c) and (d) of Title 31 of the United States Code (commonly known as the Federal Managers? Financial Integrity Act (FMFIA)) requires the Comptroller General to issue standards for internal control in the federal government.
Author: United States Government Accountability Office
Publisher: Lulu.com
ISBN: 0359536395
Category : Reference
Languages : en
Pages : 234
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Book Description
Audits provide essential accountability and transparency over government programs. Given the current challenges facing governments and their programs, the oversight provided through auditing is more critical than ever. Government auditing provides the objective analysis and information needed to make the decisions necessary to help create a better future. The professional standards presented in this 2018 revision of Government Auditing Standards (known as the Yellow Book) provide a framework for performing high-quality audit work with competence, integrity, objectivity, and independence to provide accountability and to help improve government operations and services. These standards, commonly referred to as generally accepted government auditing standards (GAGAS), provide the foundation for government auditors to lead by example in the areas of independence, transparency, accountability, and quality through the audit process. This revision contains major changes from, and supersedes, the 2011 revision.
Author:
Publisher:
ISBN:
Category : Administrative law
Languages : en
Pages : 1216
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Book Description
Author: Keith Potts
Publisher: Routledge
ISBN: 1134107358
Category : Technology & Engineering
Languages : en
Pages : 321
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Book Description
The Latham and Egan Reports have seen some significant changes in the role of the construction cost manager. Keith Potts examines the key issues and best practice in the cost management of construction projects under traditional contracts and new methodologies. All stages within the life cycle of a project are considered from pre-contract to tendering and post contract.
Author: California
Publisher:
ISBN:
Category : California
Languages : en
Pages : 780
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Book Description
Volumes include: Statutory record.
Author: United States. Congress. Senate. Committee on Appropriations. Subcommittee on HUD-Independent Agencies
Publisher:
ISBN:
Category : United States
Languages : en
Pages : 1020
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Book Description
