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image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Archivio istituziona...arrow_drop_down
image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao
https://doi.org/10.65109/phph6...
Article . 2015 . Peer-reviewed
Data sources: Crossref
DBLP
Conference object . 2023
Data sources: DBLP
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Global Approximations for Principal Agent Theory

Authors: Cerutti F.; Oren N.; Burnett C.;

Global Approximations for Principal Agent Theory

Abstract

Principal Agent Theory (PAT) seeks to identify incentives and sanctions that a consumer should offer a producer as part of a contract in order to maximise the former's utility. However, identifying optimal contracts in large systems is difficult, particularly when little information is available about producer competencies. In this work we propose that a global contract be used to govern such interactions, derived from the properties of a representative agent. After describing how such a contract can be obtained, we analyse the contract utility space and its properties. Finally, we suggest how our work can be integrated with existing work on multi-agent systems.

Country
Italy
Related Organizations
Keywords

Cold start problem; Principal agent theory

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