A Model of Delegated Project Choice∗
نویسندگان
چکیده
We present a model in which a principal delegates the choice of project to an agent with different preferences. A project’s characteristics are verifiable once presented to the principal, but the principal does not know how many projects are available to the agent. The principal chooses the set of projects which the agent can implement. Two frameworks are considered: (i) a static setting in which the set of available projects is exogenous to the agent but uncertain, and (ii) a dynamic setting in which the agent searches for projects.
منابع مشابه
Optimal risk-sharing with effort and project choice
December 23, 2005 Abstract We consider first-best risk-sharing problems in which “the agent” can control both the drift (effort choice) and the volatility of the underlying process (project selection). In a model of delegated portfolio management, it is optimal to compensate the manager with an option-type payoff, where the functional form of the option is obtained as a solution to an ordinary ...
متن کاملEstimating the Value of Improvement in Lake Urmia’s Environmental Situation Using Choice Experiment
The Lake Urmia and its satellite wetlands have been selected as a demonstration site for the United Nations Development Program / Global Environment Facility / Department of Environment Conservation of Iranian Wetlands Project. This project aims to demonstrate reduction of the major threats of this wetland protected area coordinated through an integrated management plan. A choice experiment was...
متن کاملProject Manager Competency Model based on ANP Method in Construction Projects
Most developed countries have already accepted‘’ Competency’’ as the major factor in making management more competitive, therefore they have discovered the importance of Qualification Models and their application to cause human resources growth. Consequently, their aim is to improve the qualification of their human resources, and to reach this end, considering different ways of assessing compet...
متن کاملGP-support by means of AGnES-practice assistants and the use of telecare devices in a sparsely populated region in Northern Germany – proof of concept
BACKGROUND In many rural regions in Germany, the proportion of the elderly population increases rapidly. Simultaneously, about one-third of the presently active GPs will retire until 2010. Often it is difficult to find successors for vacant GP-practices. These regions require innovative concepts to avoid the imminent shortage in primary health care.The AGnES-concept comprises the delegation of ...
متن کاملA Systems Dynamics Model for Project Management systems of Project-Based Organization
It is obvious that the success of a project-based organization is dependent on its projects. A variety of tools such as the project excellence model, project management maturity models, the earned value method, have been developed in this regard, but there are still delays in projects because the projects have dynamic nature with non-linear relationships and feedback processes during the projec...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
عنوان ژورنال:
دوره شماره
صفحات -
تاریخ انتشار 2008