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Formulating Principal-Agent Service Contracts For A Revenue Generating Unit
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    Specifications

    Category Type
    Business Strategy
    ISBN
    9783319186719.0
    Item EAN
    2724330359178
    People
    Author
    Shuo Zeng
    People
    Publisher
    Springer
    Category Type
    Business Strategy
    ISBN
    9783319186719.0
    Item EAN
    2724330359178
    People
    Author
    Shuo Zeng
    People
    Publisher
    Springer
    Languages and countries
    Book Language
    English
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  •  

    Description:

    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

    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.

 

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