OUTPUT SHARES IN BILATERAL AGENCY CONTRACTS
成果类型：
Note
署名作者：
NEARY, HM; WINTER, RA
署名单位：
University of Toronto
刊物名称：
JOURNAL OF ECONOMIC THEORY
ISSN/ISSBN：
0022-0531
DOI：
10.1006/jeth.1995.1059
发表日期：
1995
页码：
609-614
关键词：
摘要：
In the context of bilateral agency contracts in which the input of each agent cannot be contractually enforced, this paper asks, What determines the relative shares of the agents? The answer is simple and surprisingly general. The relative shares are given by the fourth root of the inverse ratio of the slopes of marginal products. This result is applied to several examples of bilateral agency contracts. (C) 1995 Academic Press, Inc.