Formulating Principal-Agent Service Contracts for a Revenue Generating Unit (2016) (SpringerBriefs in Operations Management)
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- Synopsis
- 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.
- Copyright:
- 2016
Book Details
- Book Quality:
- Publisher Quality
- ISBN-13:
- 9783319186726
- Related ISBNs:
- 9783319186719
- Publisher:
- Springer International Publishing
- Date of Addition:
- 09/08/19
- Copyrighted By:
- Springer International Publishing, Cham
- Adult content:
- No
- Language:
- English
- Has Image Descriptions:
- No
- Categories:
- Nonfiction, Business and Finance, Technology
- Submitted By:
- Bookshare Staff
- Usage Restrictions:
- This is a copyrighted book.
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