The "Sales Agent" Problem : Effort/Leisure Allocation under Performance Pay as Behavior towards Risk
The choice between safe and risky assets represents behavior towards risk: more risk‐averse investors buy more safe assets. We develop and test a general model that applies this intuition to the time allocation between risky effort and risk‐free leisure under linear incentives. When risk increases with effort, risk‐averse agents choose less effort, but when risk is independent of effort, effort choice is unaffected by risk preferences. In many incentive contracts, income risk is multiplicative with, rather than additive to effort, sales commissions being one example. In such cases, lower effort by the risk‐averse is a hitherto undocumented behavior towards risk.
Implementation of IT and program projects seems to be very complicated and taught process, associated with many uncertainties and risks. Sure, this does not mean the rejection of such projects, supposed the more responsibility for the decision making process of new information technologies implementation. To manage various problems which face project managers, it makes sense to use special risk management software. The functionality of modern risk management systems allows identifying risk occurrence, conducting scenario modeling, take the more appropriate managing decisions based on scenario analysis and mathematical calculations. All these functionality will support project manager to optimize his business activities in accordance to risk management practices and ensure better coordination and balance inside the project team. Currently there available a wide range of project management software, but it is reasonable to conduct some analysis in terms of applicability to specific IT projects. The author will review the most appropriate software solutions for the risk management in IT area, conduct competitive analysis and provide some recommendations on software selection.
The ACRN Journal of Finance and Risk Perspectives (JoFRP) is a strictly academic, double-blind peer reviewed international e-journal, by the ACRN Oxford Research Centre, UK. All article abstracts are indexed in the SSRN database, the social science research network, in EBSCO, and are searchable through Google Scholar. It is included in the h-Index and impact calculations. The journal is listed in the Cabell Quality Publishing Database, which is typically relevant for tenure track evaluations.
This journal is special because it aims to provide an outlet for inter-disciplinary and more in-depth research papers with various methodological approaches. The target group of this journal are academics who want to get a better understanding of the interconnectedness of their fields by acknowledging the methods and theories used in closely related areas.
The JoFRP thus aims to overcome the self-imposed paradigmatic boundaries and reflexive isomorphisms of the individual, typically rather narrow fields and invites new and combined perspectives from the fields of Finance, Risk and Accounting. Despite its methodological, topical and disciplinary openness - it does so with a strong focus on academic rigor and robustness. All articles will be strictly double-blind peer reviewed and authors are frequently invited to discuss the ramifications of their articles in the global FRAP conferences.
Narrative functions very greatly and are studied in a wide interdisciplinary spectrum. However, one of the functions of the narrative have not yet been studied in detail and therefore deserves a special attention. This is an alarm function: narratives can not only reconstruct past events, but they can also warn on the possible danger, predict the future events and simulate the reactions of recipients. In theoretical narratology, this function is perceived with caution: narrative is usually considered as a form referring to the past. At the same time, the applied research shows that narratives could be actively involved in the practices of predicting the future. This mechanism is largely based on the collective memory. The article deals on the problem of narrative representation of risk and its relation to collective memory.
The tutorial discusses the practical computer analysis in the solution of problems in financial management topics . Included guidelines for the quantitative description of the planning system in financial management. An overview of key categories and provisions for asset management and capital. Revealed theoretical issues related to investment management . The material in this manual has a scientific and practical character and contains the information about the typical problems of financial management , which will be in demand by readers directly in research and professional activities. The manual is intended for students and undergraduates enrolled in the direction of "Economics" and "Management" , and may also be useful to managers and professionals , both financial and non-financial corporations.
The possibility of using the category of "value community" in the study of risk is analyzed. On the example of the "psychophysical numbing" studies we try to show the possible contribution of sociology based on utilizing the resources of functionalism and of "folk sociology" approach.
The present article contains a description of new method of royalty calculation based on analysis of risk decrease generated by franchisor's intellectual assets transmitted to franchises.
The article discusses the productivity of using the naïve theories of communities in the study of the social aspects of risk. We identify existing and future research directions. We also discuss the question of what aspects of risk and risk perception can potentially depend upon naïve perceptions of the communities. A brief description of the main approaches to the study of lay theories communities is also given.