Richard Thaler: Writing Contracts for Humans Article by Kate Vitasek published by Outsource Magazine on 15 March 2018. Nobel laureate Richard Thaler understands the “human” side of economics. He’s a founding member of behavioral economics and most recently won the 2017 Nobel Prize in Economics Sciences… Here’s the link: http://outsourcemag.com/richard-thaler-writing-contracts-for-humans
Thaler’s work provides a more realistic understanding of human behavior in economic theory.
Nobel laureate Ronald Coase, a giant of modern economic thought and whose ideas about transaction costs and the nature of companies are a foundation of Vested principles, died this week in Chicago. He was 102. In “The Nature of the Firm,” which was developed and written while he was still an undergraduate and published in 1937, Professor […]
The New Economics of Outsourcing (Vested Outsourcing) Posted by HfS Research, the article begins: While it’s often said there’s nothing new under the sun, it’s also a truism that what’s old often becomes new. Much of the evolution of modern outsourcing can be tied to the study of economics. Here’s the link to the rest […]
Introduction to “Academics of Outsourcing” The first in a monthly series for SDCE on the academic thought leaders who, over the years, did the initial spadework on concepts such as the structure of the firm; credible contracting; market forces; game theory; free markets; performance management; and flexible, collaborative contract governance. Here’s the article link: http://www.sdcexec.com/blog/10735027/introduction-to-academics-of-outsourcing
For the most part the economics of outsourcing series has examined the big thinkers in economics who have influenced the development of modern outsourcing. Today I’ll put the focus on Joseph E. Stiglitz, whose work has the power to influence how companies think about globalization. Joseph E. Stiglitz, a professor at Columbia University, received the […]
Win-win thinking is not just something nice to say. It’s smart business and really is beautiful… In the article “All in the Game,” lead researcher Kate Vitasek explains why smart companies are challenging winner-takes-all approaches and are going all in to win-win approaches.
When is executive compensation enough? When do executive salaries and bonuses actually hurt the best of interests of a company? Given the history of compensation over the several decades, the answer from the executive suite would of course be “Never!” But another view is emerging, as highlighted by Vivek Wadhwa in a viewpoint column last […]
Lead researcher Kate Vitasek takes an interesting look into her first “Big Thinker” and the father of modern economics – Adam Smith. In her article titled “Adam Smith and Outsourcing”, Kate explains what Adam Smith can tell us about outsourcing.
Negotiation is on my mind a lot lately as I finish The Vested Outsourcing Manual with three colleagues and friends. It also apparently is much on the mind of Tim Cummins in his excellent “Commitment Matters” blog, where he writes about the “economics of negotiation” and the “purpose of negotiation.” It’s on my mind because […]