Formulating Principal-Agent Service Contracts for a Revenue Generating Unit

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 a...

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Bibliographic Details
Main Authors: Zeng, Shuo (Author), Dror, Moshe (Author)
Corporate Author: SpringerLink (Online service)
Format: Electronic eBook
Language:English
Published: Cham : Springer International Publishing : Imprint: Springer, 2016.
Series:SpringerBriefs in Operations Management
Subjects:
Online Access:Full Text via HEAL-Link
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100 1 |a Zeng, Shuo.  |e author. 
245 1 0 |a Formulating Principal-Agent Service Contracts for a Revenue Generating Unit  |h [electronic resource] /  |c by Shuo Zeng, Moshe Dror. 
264 1 |a Cham :  |b Springer International Publishing :  |b Imprint: Springer,  |c 2016. 
300 |a IX, 129 p. 37 illus.  |b online resource. 
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505 0 |a Introduction -- The Basic Principal-Agent -- Risk-Neutral Agent -- Risk-Averse Agent -- Risk-Seeking Agent -- Summary. 
520 |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. 
650 0 |a Business. 
650 0 |a Transportation. 
650 0 |a Operations research. 
650 0 |a Decision making. 
650 0 |a Management science. 
650 1 4 |a Business and Management. 
650 2 4 |a Operation Research/Decision Theory. 
650 2 4 |a Operations Research, Management Science. 
650 2 4 |a Transportation. 
700 1 |a Dror, Moshe.  |e author. 
710 2 |a SpringerLink (Online service) 
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776 0 8 |i Printed edition:  |z 9783319186719 
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