Multiple-level principal-agent model under adverse selection

作者：Nie Pu yan^*

来源：African Journal of Business Management, 2010, 4(18): 4042-4048.

• Principal-agent model
• multiple levels
• incentive mechanisms
• industrial organization
• game theory

Almost all principal-agent models focus on single level situation, while there exist numerous cases of principal-agent relation with multiple levels in practice. This paper develops principal-agent models with multiple levels based on subcontract phenomena. The corresponding properties about principal-agent models with multiple levels under adverse selection are explored. There exists twist of the quantity in subcontract. We also find that the efficiency of principal-agent with multiple levels is lower than that with single level.

• 出版日期2010-12-18
• 单位暨南大学