A common question always had been of interest to understand as to how people make decisions. It is well known that decisions are not made in isolation but they are the products of influence and confluence of social correlates. Studies of some Sociologists report that often decisions are made in...

There are studies showing linkages between religious beliefs and health. The importance of religion on health has been examined by studies (Vaux 1976), the dietary beliefs in health and illness (Chan Ho 1985), the role of religion in morbidity and mortalitiy (Jarvis and North Cott 1987), the...

Alma Ata Declaration on Primary Health Care defines , health as not just absence of disease but fitness at all levels i.e.Physically, mentally, Psychologically, spirtually, socially, and so on. RCH emphasizes fitness at all level along with health education and medical education. For the last...

Software is the essential enabler for the new society. It creates new markets and new directions for a more reliable, flexible, and robust society. This paper presents a new trend and theory in the direction in which we believe software science and engineering may develop to transform the role...

Several recent papers argue that contracts provide reference points that affect ex post behavior. We test this hypothesis in a canonical buyer-seller relationship with renegotiation. Our paper provides causal experimental evidence that an initial contract has a highly significant and...

We present an international trade model with multiproduct firms. Firms are heterogeneously endowed with two types of capabilities that jointly determine the trade-off within firms between managing a large portfolio of products and producing at low marginal cost. The model can explain many of the...

This paper reports data from a laboratory experiment on two-period moral hazard problems. The findings corroborate the contract-theoretic insight that even though the periods are technologically unrelated, due to incentive considerations principals can benefit from offering long-term contracts...

We study a continuous-time game of strategic experimentation in which the players try to assess the failure rate of some new equipment or technology. Breakdowns occur at the jump times of a Poisson process whose unknown intensity is either high or low. In marked contrast to existing models, we...

We study endogenous group formation in tournaments employing experimental three-player contests. We find that players in endogenously formed alliances cope better with the moral hazard problem in groups than players who are forced into an alliance. Also, players who are committed to expending...

The compensation of executive board members in Germany has become a highly controversial topic since Vodafone's hostile takeover of Mannesmann in 2000 and it is again in the spotlight since the outbreak of the financial crisis of 2009. Based on unique panel data evidence of the 500 largest firms...