Executive compensation and executive incentive problems: an empirical analysis

The question of whether the design of the corporate executive pay package reflects an attempt to reduce agency costs between shareholders an managers is adressed. The components of senior executive pay are found to vary systematically across firms in a manner that cannot easily be explained by tax effects, and which would indicate that individual elements of pay are aimed at controlling for limited horizon and risk exposure problems. Managerial decisions and the structure of managerial pay therefore appear to be interrelated.

Managing the risks of medical technology: Do hazard surveillance systems provide an early warning of medical device problems?

The Food and Drug Administration (FDA) is responsible for risk assessment and risk management in the post-market surveillance of the U.S. medical device industry. One of the FDA regulatory mechanisms, the Medical Device Reporting System (MDR) is an adverse event reporting system intended to provide the FDA with advance warning of device problems. It includes voluntary reporting for individuals, and mandatory reporting for device manufacturers. ^ In a study of alleged breast implant safety problems, this research examines the organizational processes by which the FDA gathers data on adverse events and uses adverse event reporting systems to assess and manage risk. The research reviews the literature on problem recognition, risk perception, and organizational learning to understand the influence highly publicized events may have on adverse event reporting. Understanding the influence of an environmental factor, such as publicity, on adverse event reporting can provide insight into the question of whether the FDA's adverse event reporting system operates as an early warning system for medical device problems. ^ The research focuses on two main questions. The first question addresses the relationship between publicity and the voluntary and mandatory reporting of adverse events. The second question examines whether government agencies make use of these adverse event reports. ^ Using quantitative and qualitative methods, a longitudinal study was conducted of the number and content of adverse event reports regarding breast implants filed with the FDA's medical device reporting system during 1985–1991. To assess variation in publicity over time, the print media were analyzed to identify articles related to breast implant failures. ^ The exploratory findings suggest that an increase in media activity is related to an increase in voluntary reporting, especially following periods of intense media coverage of the FDA. However, a similar relationship was not found between media activity and manufacturers' mandatory adverse event reporting. A review of government committee and agency reports on the FDA published during 1976–1996 produced little evidence to suggest that publicity or MDR information contributed to problem recognition, agenda setting, or the formulation of policy recommendations. ^ The research findings suggest that the reporting of breast implant problems to FDA may reflect the perceptions and concerns of the reporting groups, a barometer of the volume and content of media attention. ^

Optimal Central Banker Contracts and Common Agency

This paper considers the contacting approach to central banking in the context of a simple common agency model. The recent literature on optimal contracts suggests that the political principal of the central bank can design the appropriate incentive schemes that remedy for time-inconsistency problems in monetary policy. The effectiveness of such contracts, however, requires a central banker that attaches a positive weight to the incentive scheme. As a result, delegating monetary policy under such circumstances gives rise to the possibility that the central banker may respond to incentive schemes offered by other potential principals. We introduce common agency considerations in the design of optimal central banker contracts. We introduce two principals - society (government) and an interest group, whose objectives conflict with society's and we examine under what circumstances the government-offered or the interest-group-offered contract dominates. Our results largely depend on the type of bias that the interest group contract incorporates. In particular, when the interest group contract incorporates an inflationary bias the outcome depends on the principals' relative concern of the incentive schemes' costs. When the interest group contract incorporates an expansionary bias, however, it always dominates the government contract. A corollary of our results is that central banker contracts aiming to remove the expansionary bias of policymakers should be written explicitly in terms of the perceived bias.

Verbs as Linguistic Markers of Agency - The Social Side of Grammar

Basic grammatical categories may carry social meaning irrespective of their semantic content. In a set of four studies, we demonstrate that verbs – a basic linguistic category present and distinguishable in most languages – are related to the perception of agency, a fundamental dimension in social perception. In an archival analysis on actual language use in Polish and German, we found that targets stereotypically associated with high agency (men and young people) are presented in the immediate neighborhood of a verb more often than non-agentic social targets (women and old people). Moreover, in three experiments using a pseudo-word paradigm, verbs (but not adjectives and nouns) were consistently associated with agency (but not communion). These results provide consistent evidence that verbs, as grammatical vehicles of action, are linguistic markers of agency. In demonstrating meta-semantic effects of language, these studies corroborate the view of language as a social tool and of language as an integral part of social perception.

A study of vegetation problems associated with refuse landfills /

Mode of access: Internet.

Read this if you plan to breathe this summer : advisory for those with asthma & breathing problems and for children, older adults, and people who work outdoors.

Mode of access: Internet.

Overview of the environmental control measures and problems in the food processing industries /

Mode of access: Internet.

Development of an economics-based methodology for projecting future pollution problems /

Issued June 1978.

Contracting problems at EPA : hearing before Committee on Governmental Affairs, United States Senate, One Hundred Second Congress, second session, March 2, 1992.

Shipping list no.: 93-0404-P.

Investigations of basic geometric quality of aerial photographs and some related problems /

"17 August 1962."

Management of medical problems resulting from population relocation : final report 44U-1000 /

Includes appendices.

An error analysis of solutions to sparse linear programming problems,

"Supported in part by the Advanced Research Projects Agency ... contract no. US AF 30(602) 4144."

Eigen-value problems,

"This work was supported in part by the Department of Computer Science, University of Illinois, Urbana, Illinois, and in part by the Advanced Research Projects Agency as administered by the Rome Air Development Center under contract no. US AF 30(602)4144."

An environmental assessment of potential gas and leachate problems at land disposal sites /

Includes bibliographical references (pages 32-33).

Analysis of specialized pesticide problems : invertebrate control agents-efficacy test methods /

"EPA-540/10-77-001--EPA-540/10-77-007."