9783319186719 - SpringerBriefs in Operations Management Formulating Principal-Agent Service Contracts for a Revenue Generating Unit

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This book examines contractual options for a performance based contract between an owner of a revenue generating unit and a repair agent for such unit. The framework of the analysis is that of economists' principal-agent problem. The contractual options of a principal and an agent are modeled as a Markov process with an undetermined time horizon. For a risk neutral principal the authors identify the conditions under which a principal contracts with a risk-neutral risk-averse or risk-seeking agent and derive the principal's optimal offer together with the agent's optimal service capacity response. In essence the book provides an extensive formulating analysis of principal-agent contracts given any exogenous parameter values. Ultimately a small number of formulas cover a large spectrum of principal-agent conditions.

Produktinformationen zuletzt aktualisiert am
30.03.2025 um 12:13 Uhr

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EAN

9783319186719

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ASIN

331918671X

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