Fairness, Incentives and Contractual Incompleteness

We show that concerns for fairness may have dramatic consequences for the optimal provision of incentives in a moral hazard context. Incentive contracts that are optimal when there are only selfish actors become inferior when some agents are concerned about fairness. Conversely, contracts that are doomed to fail when there are only selfish actors provide powerful incentives and become superior when there are also fair-minded players. These predictions are strongly supported by the results of a series of experiments. Furthermore, our results suggest that the existence of fair actors may be an important reason why many contracts are left deliberately incomplete.Incentive Contracts ; Moral Hazard ; Fairness ; Reciprocity ; Incomplete Contracts

Fairness, Incentives and Contractual Incompleteness

We show that concerns for fairness may have dramatic consequences for the optimal provision of incentives in a moral hazard context. Incentive contracts that are optimal when there are only selfish actors become inferior when some agents are concerned about fairness. Conversely, contracts that are doomed to fail when there are only selfish actors provide powerful incentives and become superior when there are also fair-minded players. These predictions are strongly supported by the results of a series of experiments. Furthermore, our results suggest that the existence of fair actors may be an important reason why many contracts are left deliberately incomplete.Incentive contracts, moral hazard, fairness, reciprocity, incomplete contracts

Theories of Fairness and Reciprocity

Most economic models are based on the self-interest hypothesis that assumes that all people are exclusively motivated by their material self-interest. In recent years experimental economists have gathered overwhelming evidence that systematically refutes the self-interest hypothesis and suggests that many people are strongly motivated by concerns for fairness and reciprocity. Moreover, several theoretical papers have been written showing that the observed phenomena can be explained in a rigorous and tractable manner. These theories in turn induced a new wave of experimental research offering additional exciting insights into the nature of preferences and into the relative performance of competing theories of fairness. The purpose of this paper is to review these recent developments, to point out open questions, and to suggest avenues for future research

Theories of Fairness and Reciprocity

Most economic models are based on the self-interest hypothesis that assumes that all people are exclusively motivated by their material self-interest. In recent years experimental economists have gathered overwhelming evidence that systematically refutes the self-interest hypothesis and suggests that many people are strongly motivated by concerns for fairness and reciprocity. Moreover, several theoretical papers have been written showing that the observed phenomena can be explained in a rigorous and tractable manner. These theories in turn induced a new wave of experimental research offering additional exciting insights into the nature of preferences and into the relative performance of competing theories of fairness. The purpose of this paper is to review these recent developments, to point out open questions, and to suggest avenues for future research.Behavioral Economics ; Fairness ; Reciprocity ; Altruism ; Experiments ; Incentives ; Contracts ; Competition

Theories of Fairness and Reciprocity – Evidence and Economic Applications

Most economic models are based on the self-interest hypothesis that assumes that all people are exclusively motivated by their material self-interest. In recent years experimental economists have gathered overwhelming evidence that systematically refutes the self-interest hypothesis and suggests that many people are strongly motivated by concerns for fairness and reciprocity. Moreover, several theoretical papers have been written showing that the observed phenomena can be explained in a rigorous and tractable manner. These theories in turn induced a new wave of experimental research offering additional exciting insights into the nature of preferences and into the relative performance of competing theories of fairness. The purpose of this paper is to review these recent developments, to point out open questions, and to suggest avenues for future research.Behavioral economics, fairness, reciprocity, altruism, experiments, incentives, contracts, competition

Emerging Communications for Wireless Sensor Networks

Wireless sensor networks are deployed in a rapidly increasing number of arenas, with uses ranging from healthcare monitoring to industrial and environmental safety, as well as new ubiquitous computing devices that are becoming ever more pervasive in our interconnected society. This book presents a range of exciting developments in software communication technologies including some novel applications, such as in high altitude systems, ground heat exchangers and body sensor networks. Authors from leading institutions on four continents present their latest findings in the spirit of exchanging information and stimulating discussion in the WSN community worldwide

Towards “after-modern” design:a practice-based inquiry

This practice-based PhD investigates the possibility that neutral understandings of technology associated with the instrumentally rational modern worldview restrict product design education from contributing to sustainability in a substantive manner. The concept of “after-modern” design is developed as a means of addressing the shortcomings of the modern and postmodern worldviews – and to support design education to move beyond these worldviews. A theoretical basis for “after-modern” design is developed by synthesising insights from the philosophy of technology (especially phenomenology and postphenomenology), critical approaches to design, and human values literature relating to self-enhancement and self-transcendence values. The concept of “after-modern” design is further advanced via a research through design approach and by conducting workshops with design students. The original contributions to knowledge that this thesis makes relate to: • The research method of conducting “after-modern” design inquiries: This method advocates creating highly conceptual “inquiring objects” to investigate how unsustainable self-enhancement values become embodied in technological artefacts and associated systems. These objects invite the design student to “see” familiar technologies through a lens of unfamiliar materials and ideas. In doing so, the objects support the discernment of directions for design that are rooted in an alternate set of values that challenge the unsustainable norms of late-modernity. • The process of creating “inquiring objects”: Aspects of the designing process are identified that support design students to challenge the limitations that the prevailing modern worldview places upon their practice. • An eight-point framework for the “after-modern” design of personal digital devices and associated technologies: The framework proposes eight transferable qualities that point to “after” modernity by potentially encouraging self-transcendence values, which are known to foster more sustainable ways of living

The medical and rehabilitative management of persons with motor neuron disease.

Although the management of Motor Neuron Disease (MND) remains devoid of a cure, persons affected by this devastating condition are nonetheless entitled to the best quality care that is available. A paucity of information exists documenting the perceptions of healthcare consumers regarding the management that is provided. In addition optimal healthcare comprises an intricate interaction of patient-centred care, patient-centred communication, and bioethical practice, and when these three dimensions are implemented according to acceptable standards, high-quality healthcare is perceived by the healthcare consumer. Given however the socio-political challenges that face healthcare systems, the management of MND needs to be considered against current trends in service delivery and the need for evidence-based medicine. An exploratory study was therefore conducted to investigate the perceptions of persons with MND and their family members regarding current medical and rehabilitative management. The sample comprised six persons with MND who presented with a communication impairment, as well as six family members. Participants’ perceptions were elicited through the use of a semi-structured interview schedule, and questions focused on healthcare professionals’ behaviours during healthcare encounters. In addition emphasis was placed on the potential of the communication impairment to influence management. A standardised dysarthria assessment was conducted to characterise the nature of the speech impairment in each person with MND. Qualitative responses obtained from the interviews were analysed in accordance with a matrix-based approach, while quantitative data from the dysarthria assessment were analysed using descriptive statistics. Despite individual variability, perceptions of both persons with MND and their family members revealed general dissatisfaction with regard to medical and rehabilitative management. The majority of persons with MND were not referred for intervention following diagnosis, and the recommended team approach for the management of MND was absent. In addition the bioethical practice of many healthcare professionals was deemed questionable, and the communication impairment was perceived to impose a significant burden on the healthcare encounter. Furthermore all participants perceived a lack of available support systems for persons with MND, and it was thus not uncommon for individuals to pursue complementary and alternative medicine. South Africa’s current healthcare climate also appeared to further limit healthcare for this clinical population. In an attempt to improve the management of MND, implications are provided in terms of health communication, intervention, bioethical practice, and support systems. A proposed new framework of ideal service delivery for healthcare consumers of MND management is also presented. Further implications are outlined with regard to the need for innovative models of service delivery in South Africa’s healthcare context, as well as the role of speech-language pathologists, other healthcare professionals, policy makers, and educators in the improvement of the medical and rehabilitative management of MND. Finally theoretical implications and implications for future research are also documented