In a previous lecture at LSE, John Roberts, the John H. and Irene S. Scully Professor in Economics, Strategic Management and International Business in the Graduate School of Business at Stanford University, argued that the current financial crisis was largely caused by strong, misaligned incentives for bankers, resulting in calls for redesign of these pay schemes. He also showed that economic research over the last several years has suggested a number of contexts where weak incentives are desirable.
You can watch this lecture online.
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