Parallelism in information production: moral hazard and relative performanceevaluations

Article Abstract:

The design of incentive schemes for information-producing agents is examined. Such agents include market researchers, operations consultants, financial advisers, auditors, department managers and academics. Analysis of this incentive problemresults in the conclusion that agent compensation should be bigger for accuracyrather than inaccurate predictions, and for agreement with colleagues rather than disagreement with other forecasts. Accuracy should also be more valued than conformity and a premium should be given for the degree of difficulty in making either correct or conforming forecasts. These results suggest that engaging information agents that produce parallel investigations may provide cost advantages in the long-run because the above incentives adequately motivate the agents to perform in a competitive manner.

Evaluation, Information services, Information services industry

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Monitoring an input-output model for production. I. the control charts

Article Abstract:

Control charts have become popular for monitoring industrial control. This model provides methods for maintaining the stability of an input-output model over time, with respect to the many other factors that are important in production. Maintaining efficient resource use is a prime consideration.

Quality control

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