Research of multi-task principal-agent problems based on fairness preference and long-term performance

Research of multi-task principal-agent problems based on fairness preference and long-term performance

Abstract
The principal-agent problem is an important issue in economic research. Traditional researches used to assume that the agent has only one task: the short-term profit mission and that the principal and the agent are perfectly rational. This paper is based on the chemical enterprise in our country, and it first considers the agent with multi-task objectives; then improves the model from the point of view of long-term performance; finally introduces the fairness preference theory into the model to make it more realistic significance. The result shows that: the optimal sharing coefficient that the principal gives the agent is closely related to the correlation between the multi-tasks and it shows a trend of decrease after increase with the increase of the jealousy preference strength and sympathy preference strength of the agent. This paper can provide some decision-making basis and reference to solve the principal-agent problems of chemical enterprise in reality. ©, 2015, Systems Engineering Society of China. All right reserved.
Research of multi-task principal-agent problems based on fairness preference and long-term performance

Research of multi-task principal-agent problems based on fairness preference and long-term performance

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