![]() In this session, we will show how the agency model of Holmstrom (1979) can be estimated based on recent work by G. ![]() Matlab code 1 ( estimation), Matlab code 2 ( simulation) The research provides an agency-theoretic foundation to common practices that emphasize early recognition of losses, with models that can identify the factors that increase or decrease the desirability of conservatism.ģ:45-4:45: A light introduction to Structural: Structural Estimation of Contracts, J. This session will explore interactions between asymmetries in measurement and the stewardship role of accounting. We will also review how relational contracts are likely to manifests in the empirical record.Ģ:00-3:30: Conservatism and Contracting, J. We will explore together how to set up a problem with relational contracts, as well as standard frameworks in this literature. This session will explore dynamic incentives in the form of relational contracts, that is, non-contractual arrangements that can either discipline agents or induce collusion. ![]() We will also discuss how to set up an agency problem with binary problems and within the risk-neutral limited-liability context.ġ0:45-12:45: Relational Contracts, J. In this section, we will review basics of being ‘in the know’ in agency theory, as well as various complexities that can arise, including the first-order approach, the first-best solution in certain unbounded problems and classic results in this literature. If you have any questions, please do not hesitate to contact one of the organizers on the website or email Jeremy at look forward to seeing you in San Diego!Ĩ:30-10:30: Fundamentals of Agency Theory, J. If you receive an email, please follow the link to register for the conference. UCSD and the AES have agreed to provide facilities for the event and expenses for speakers, but we ask for a modest contribution of $200 for breakfast and lunches. The course requires separate registration from the Junior Theory Conference. Note that, this year, the annual meeting of the AAA will be in San Francisco, a short flight from San Diego (1.5h), with regular sessions starting on 8/12/19. The event is part of a week-long event at UCSD, and will be followed by the yearly conference of the Junior Accounting Theory Conference on Friday 8/9/19, as well as an optional class trip on Saturday 8/10/19. Sapra (Chicago) will be the resident scholars for the lectures and will cover the theory part. ![]() The course is best appreciated by students who have taken at least one course course in either microeconomics, game theory or in accounting theory, but does not assume prior knowledge in contracts, programming, or structural estimation. The objective of the summer school is to teach accounting theory and methods to incorporate theory in empirical research, in a manner that is self-contained for researchers from various backgrounds. The Accounting and Economics Society is pleased to announce the 2nd summer school in Theory and Structural Estimation, which will take place at the Rady School of management, UCSD, from Monday 8/5/19 to Thursday 8/8/19. ![]()
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