Formulating Principal-Agent Service Contracts for a Revenue Generating Unit / by Shuo Zeng, Moshe Dror

By:

Zeng, Shuo [aut]

Contributor(s):

Dror, Moshe [oth]

Resource type: Ressourcentyp: Buch (Online)Book (Online)Language: English Series: SpringerBriefs in Operations Management | SpringerLink BücherPublisher: Cham : Springer, 2016Description: Online-Ressource (IX, 129 p. 37 illus, online resource)ISBN:

9783319186726

Subject(s):

Additional physical formats: 9783319186719 | Druckausg.: 978-3-319-18671-9 | Erscheint auch als: Formulating principal-agent service contracts for a revenue generating unit. Druck-Ausgabe Cham [u.a.] : Springer International Publishing, 2015. IX, 129 S.MSC: MSC: *91-02 | 91B40 | 91B16 | 91B26 | 91A80RVK: RVK: QC 135 | QP 715 | SK 980LOC classification:

HD30.23

DOI: DOI: 10.1007/978-3-319-18672-6Online resources:

Contents:

Summary: Introduction -- The Basic Principal-Agent -- Risk-Neutral Agent -- Risk-Averse Agent -- Risk-Seeking Agent -- Summary.Summary: 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.PPN: PPN: 1657534472Package identifier: Produktsigel: ZDB-2-SEB | ZDB-2-SXBM | ZDB-2-BUM

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