Formulating Principal-Agent Service Contracts for a Revenue Generating Unit

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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
Publisher:
Springer International Publishing, Cham
Date of Addition:
Copyrighted By:
Springer
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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