The Value of Information in the Hold-Up Problem

2004 ◽  
Vol 5 (2) ◽  
pp. 177-203 ◽  
Author(s):  
Thomas Pfeiffer
Keyword(s):  
Information System ◽  
Information Structure ◽  
Value Of Information ◽  
The Other ◽  
Information Control ◽  
Ceteris Paribus ◽  
Head Office ◽  
Specific Investments ◽  
Negative Effect ◽  
Central Management

Abstract In the literature, the information structure of the hold-up problem is typically assumed to be exogenous. In this paper, we introduce an additional stage at which the head office may grant individual divisions access to an information system before they undertake their specific investments. Although more information ceteris paribus enhances each divisions’ profits, more information can reduce divisions’ investments and destroy synergies for the other division that would have been generated by the investments. If this negative effect dominates, then information can be harmful for the entire company. Hence, information control can be a subtle force to deal with the hold-up problem to a certain extent. In this paper we analyze those conditions under which information is either harmful or beneficial for central management.

Rancang Bangun Sistem Informasi Zakat Infaq Shodaqoh Menggunakan Metodologi Extreme Programming

2018 ◽  
Vol 9 (1) ◽  
pp. 31-42
Author(s):  
Rysa Sahrial
Keyword(s):  
Information System ◽  
The Other ◽  
Extreme Programming ◽  
Limited Time ◽  
Limited Information ◽  
Research Information ◽  
Development Method ◽  
Know How ◽  
Five Factors ◽  
Research Information System

Poverty is one continuing social issue which is hard to solve. Dealing with this problem, Islam has already had the alternative solution that is tithe (Zakat). Zakat is implemented to decrease economy imbalanced appeared in the society. While in fact, not all the Moslem pay Zakat. There are five factors as the reason why Moslem didn’t do that. First, some Muzakki wants to deliver his zakat directly.Seconde, not all Muzakki know how much Zakat must be paid. The other factors are Limited information about Mustahik home, limited time that Muzakki have to deliver his Zakat directly and the easiness to report Mustahik data. Dealing with those factors, it is required to have an information system which can make Muzakki meets Mustahik. In this research, information system application used Extreme Programming (XP) development method. XP method is required to program a system which will be made by accomodating the users’ needs and expectations.

Pengaruh Luka Iris Pada Tikus Dengan Paparan Hidrogen Peroxida 3% terhadap Epitelisasi dan Pembentukan Eksudat pada Permukaan Epitel Kulit.

2020 ◽  
Vol 17 (2) ◽  
pp. 172
Author(s):  
HARMAN AGUSAPUTRA ◽  
MARIA SUGENG ◽  
AYLY SOEKAMTO ◽  
ATIK WULANDARI
Keyword(s):  
Hydrogen Peroxide ◽  
Wound Healing ◽  
The Other ◽  
Delayed Wound Healing ◽  
Peroxide Group ◽  
Hemostatic Effect ◽  
Significant Difference ◽  
Negative Effect ◽  
Wound Healing Effect ◽  
Epithelial Growth

<p><strong>Abstract</strong></p><p><strong>Background:</strong> Hydrogen peroxide (H<sub>2</sub>O<sub>2</sub>) as antiseptic has been used frequently to clean woundsin in hospitals and clinics. Hydrogen peroxide has the effectof strong oxidative that can kill pathogens. It can clean up debris and necrotic tissuesin wounds. Hydrogen peroxidealso has hemostatic effect that can help to stop bleeding. Besides antiseptic effects, hydrogen peroxide i s suspected of having negative effect in wound healing. Hydrogen peroxide presumably could cause delayed wound healing by exudate formation and delayed epithelial growth.</p><p><strong>Method</strong>: This study was conducted in the laboratory using 48 white mice that were divided into 2 groups. All the mice were purposely wounded. Afterwards in one group the wounds were clean up using hydrogen peroxide, while in the other group without hydrogen peroxide as control. The wounds of both groups were observed on day 1, day 3 and day 7. On day 1 and day 3, both groups did not show significant difference.</p><p><strong>R</strong><strong>esult</strong> : on day 7 showed that the wound healing in hydrogen peroxide group were delayed. Fifty percent of them had the formation of exudate and 62.5% of them showed delayed epithelial growth.</p><p><strong>Conclusion </strong>: This study could show hydrogen peroxide as wound antiseptic has delayed wound healing effect.</p><p><strong>Keyword</strong>: hydrogen peroxide, wound healing</p>

Investments and Risk Transfers

2017 ◽  
Vol 92 (6) ◽  
pp. 1-23 ◽  
Author(s):  
Tim Baldenius ◽  
Beatrice Michaeli
Keyword(s):  
Moral Hazard ◽  
Risk Premium ◽  
Bargaining Power ◽  
Risk Premia ◽  
The Other ◽  
Investment Risk ◽  
Incomplete Contracting ◽  
Risk Transfer ◽  
Specific Investments ◽  
Division Managers

ABSTRACT We demonstrate a novel link between relationship-specific investments and risk in a setting where division managers operate under moral hazard and collaborate on joint projects. Specific investments increase efficiency at the margin. This expands the scale of operations and thereby adds to the compensation risk borne by the managers. Accounting for this investment/risk link overturns key findings from prior incomplete contracting studies. We find that if the investing manager has full bargaining power vis-à-vis the other manager, he will underinvest relative to the benchmark of contractible investments; with equal bargaining power, however, he may overinvest. The reason is that the investing manager internalizes only his own share of the investment-induced risk premium (we label this a “risk transfer”), whereas the principal internalizes both managers' incremental risk premia. We show that high pay-performance sensitivity (PPS) reduces the managers' incentives to invest in relationship-specific assets. The optimal PPS, thus, trades off investment and effort incentives.

scholarly journals Two Remarks on Blackwell's Theorem

2008 ◽  
Vol 45 (02) ◽  
pp. 580-586 ◽  
Author(s):  
Ehud Lehrer ◽  
Eran Shmaya
Keyword(s):  
Decision Maker ◽  
Information Structure ◽  
Decision Problem ◽  
Partial Information ◽  
The Other ◽  
Actual State ◽  
Information Structures ◽  
Comparison Of Experiments ◽  
Classical Characterization ◽  
Blackwell's Theorem

In a decision problem with uncertainty a decision maker receives partial information about the actual state via an information structure. After receiving a signal, he is allowed to withdraw and gets zero profit. We say that one structure is better than another when a withdrawal option exists if it may never happen that one structure guarantees a positive profit while the other structure guarantees only zero profit. This order between information structures is characterized in terms that are different from those used by Blackwell's comparison of experiments. We also treat the case of a malevolent nature that chooses a state in an adverse manner. It turns out that Blackwell's classical characterization also holds in this case.

On the Chemistry of Tetrabenzyl Thiuram Disulfide and Tetramethyl Thiuram Disulfide with Bis (Triethoxysilylpropyl) Tetrasulfide in Silica Compounds

2003 ◽  
Vol 76 (4) ◽  
pp. 876-891 ◽  
Author(s):  
R. N. Datta ◽  
A. G. Talma ◽  
S. Datta ◽  
P. G. J. Nieuwenhuis ◽  
W. J. Nijenhuis ◽  
...  
Keyword(s):  
High Performance ◽  
Room Temperature ◽  
Succinic Anhydride ◽  
Dynamic Properties ◽  
The Other ◽  
Resonance Spectroscopy ◽  
Reaction Products ◽  
Negative Effect ◽  
Higher Temperature ◽  
Analytical Tools

Abstract The use of thiurams such as Tetramethyl thiuram disulfide (TMTD) or Tetrabenzyl thiuram disulfide (TBzTD) has been explored to achieve higher cure efficiency. The studies suggest that a clear difference exists between the effect of TMTD versus TBzTD. TMTD reacts with Bis (triethoxysilylpropyl) tetrasulfide (TESPT) and this reaction can take place even at room temperature. On the other hand, the reaction of TBzTD with TESPT is slow and takes place only at higher temperature. High Performance Liquid Chromatography (HPLC) with mass (MS) detection, Nuclear Magnetic Resonance Spectroscopy (NMR) and other analytical tools have been used to understand the differences between the reaction of TMTD and TESPT versus TBzTD and TESPT. The reaction products originating from these reactions are also identified. These studies indicate that unlike TMTD, TBzTD improves the cure efficiency allowing faster cure without significant effect on processing characteristics as well as dynamic properties. The loading of TESPT is reduced in a typical Green tire compound and the negative effect on viscosity is repaired by addition of anhydrides, such as succinic anhydride, maleic anhydride, etc.

Stability Analysis of Supply Chain Cooperation Contract under Asymmetric Information

2010 ◽  
Vol 44-47 ◽  
pp. 794-798 ◽  
Author(s):  
Xin Ma
Keyword(s):  
Game Theory ◽  
Supply Chain ◽  
Repeated Games ◽  
Information Structure ◽  
Transition Period ◽  
Information Economics ◽  
Real Life ◽  
The Other ◽  
Game Equilibrium ◽  
The Stability

The stability of cooperation contract is the result of abandon opportunistic behavior in the process of repeated games among the enterprise and the other subjects in the supply chain from long-term interests, and is also the foundation of healthy development for the whole supply chain. But in real life cooperation contract instability everywhere for a variety of reasons, such as ethical considerations, institutional factors, cultural factors and special reasons during the transition period and so on. From the perspective of information economics and game theory, the main game process of cooperation between enterprise and the other subjects in supply chain is not only the game of information, but also the game of interests. Information structure and the interesting structure are the important factors for the subjects of the game of the implementation of decisions and the basic contractual constraints for cooperative game equilibrium. Cooperation behaviors among the enterprise and the other subjects in the supply chain were studied on the basis of game theory, and the stability of cooperation contract is also being discussed in this paper.

scholarly journals Partner Uncertainty and the Dynamic Boundary of the Firm

2017 ◽  
Vol 9 (4) ◽  
pp. 277-302 ◽  
Author(s):  
Thomas Hellmann ◽  
Veikko Thiele
Keyword(s):  
Asset Specificity ◽  
The Other ◽  
Trade Off ◽  
Specific Investments ◽  
Dynamic Boundary ◽  
Ex Post ◽  
Ex Ante

We develop a new theory of the dynamic boundary of the firm where asset owners may want to change partners ex post. We identify a fundamental trade-off between (i) a “displacement externality” under non-integration, where a partner leaves a relationship even though his benefit is worth less than the loss to the displaced partner, and (ii) a “retention externality” under integration, where a partner inefficiently retains the other. With more asset specificity, displacement externalities matter more and retention externalities less, so that integration becomes more attractive. Wealth can resolve ex post inefficient partner arrangements, but may weaken ex ante incentives for specific investments. (JEL D21, D23, D25, D62, D86, G31)

scholarly journals Ticket Payment Information System On The Sea Beach Light Using Simple Additive Weighting Method

2019 ◽  
Vol 1 (1) ◽  
pp. 25
Author(s):  
Eko Siswanto ◽  
Bayu Abdur rohman
Keyword(s):  
Information System ◽  
Data Collection ◽  
The Other ◽  
Weighting Method ◽  
Report Generation ◽  
Daily Lives ◽  
Central Java ◽  
Report Data ◽  
Simple Additive Weighting ◽  
Card Model

<p>The Sea Beach Cahaya is one of the rising beach attractions in Kendal Regency, Central Java. In general, the tourism object of The Sea Pantai Cahaya still does not use many computer systems in their daily lives. As with tourism ticket purchases and also entrance tickets, vehicles that still use ticket paper as proof of payment, it is often disrupted if it is still fussing with the queue conditions and questions by visitors. On the other hand, report data collection is still considered slow.</p><p>One way to overcome the above problems is to make a ticket payment system that is computerized using the SAW (Simple Additive Weighting) method, replace paper tickets with a card model and also use the network to shorten report generation.</p>

scholarly journals SISTEM INFORMASI PEMETAAN KANTOR PEMERINTAH KABUPATEN SITUBONDO BERBASIS WEB

2018 ◽  
Vol 3 (2) ◽  
pp. 235-241
Author(s):  
M. Ali Mudhari
Keyword(s):  
Information System ◽  
Community Service ◽  
Geographical Location ◽  
Information Services ◽  
The Other ◽  
Location Information ◽  
Regional Autonomy ◽  
Government Services ◽  
District Government ◽  
The City

Government Services is one of the supporting elements of the implementation of regional autonomy authorities in various fields in the context of carrying out the tasks of government decentralization which has the function of providing public services needed by the community, starting from services in the form of regulation or other services to meet the needs of the community in the fields of education, health and the other. One city that has many government offices and is spread in various regions in the city of Situbondo, where the city is experiencing developments in various fields, especially in the field of community service. One solution to help Situbondo residents obtain information about the geographical location and services of government offices so that it needs to be designed mapping of the Geographic Information System of the Situbondo Regency Government Office. With this system, it is expected to provide geographical location information, office services, information services, and office agendas. In making this system, researchers used the methodology for developing a waterfall system, with several stages carried out starting from Requirements to Maintenance. The results of this study are expected to overcome the problems faced by the Situbondo district government office.

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