Decarbonizing the Boardroom? Aligning Electric Utility Executive Compensation With Climate Change Incentives

Executive Summary: Aligning Stakeholder Incentives in Orthopaedics

Productive discussion and analysis of how to align stakeholder incentives in orthopaedics requires identifying the key stakeholders, understanding their perspectives, delineating the issues necessitating alignment, and being willing to delve into contentious areas. The participants of the 2008 ABJS Carl T. Brighton Workshop in Tampa, Florida did just this and pushed themselves to never lose sig...

Executive Compensation, Supervisory Incentives, and Banking Regulation

This paper analyzes the optimal design of banking regulation when three layers of agency conflicts between society and banks, society and supervisors, and bank owners and managers are present. We argue that regulatory rules, supervisory incentives, and managerial compensation form an interdependent nexus. Since managerial incentives reveal information about banks’ operating policies comprehensi...

Incentives and Information Asymmetry of Managerial Talent in Executive Compensation

We test for information structure in executive compensation. The optimal compensation contract in the principal agent model implies that incentives increase with the level of managerial talent only if information about managerial talent is asymmetric in that executives have better information than shareholders. We find positive relations between the payperformance sensitivity and the level of m...

Aligning Incentives in Medicare

Basic Compensation for Victims of Climate Change

Global climate change is the greatest environmental challenge facing the world today. The most urgent issue is how to prevent further accumulation of greenhouse gases (GHGs) that will only fuel the process. The next priority is to implement adaptive measures, limiting harm to the extent that climate change cannot be avoided. Some degree of climate change is inevitable, imposing substantial cost...