A Research into the Multi-Task Principal-agent Model Based on the Cobb-Douglas Function [an error occurred while processing this directive]
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Economic Survey  2011, Vol. 28 Issue (6): 01    DOI:
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A Research into the Multi-Task Principal-agent Model Based on the Cobb-Douglas Function
WANG Xiang bing, YAN Guang le, YANG Wei zhong
(School of Management, University of Shanghai for Science and Technology, Shanghai 200093, China)
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Abstract  The authors introduced cobb-douglas function into the research of parametric multi-task principal-agent model, and made a case study of the model. The research shows that the principal should increase incentive strength for the tasks with higher importance and lower uncertainty, making their incentive strength higher than that for the tasks with lower importance and higher uncertainty; when the agent avoids risk strongly and the entrusted task has more uncertainty, the principal should reduce incentive strength to weaken risk sharing; when the individual ability of the agent is strong, the principal should increase the sharing coefficient of the agent to encourage the agent further.
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WANG Xiang-Bing
YAN An-Le
YANG Wei-Zhong
Key wordsCobb-Douglas function   multi-task principal-agent model   incentive mechanism   relative incentive intensity     
Received: 2011-04-26
ZTFLH:  F270  
Cite this article:   
WANG Xiang-Bing,YAN An-Le,YANG Wei-Zhong. A Research into the Multi-Task Principal-agent Model Based on the Cobb-Douglas Function. Economic Survey, 2011, 28(6): 01.
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http://www.jjjw.org.cn/CN/Y2011/V28/I6/01
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