Principal–Agent Theory, Game Theory, and the Precautionary Principle

2019 ◽  
Vol 16 (2) ◽  
pp. 105-127 ◽  
Author(s):  
Kjell Hausken
Keyword(s):  
Game Theory ◽  
Precautionary Principle ◽  
Principal Agent ◽  
Principal Agent Theory ◽  
The Precautionary Principle ◽  
Agent Theory

Resource Similarity, Market Commonality, and Spatial Distribution of Hotel Competitive Sets

2021 ◽  
pp. 109634802098857
Author(s):  
Zvi Schwartz ◽  
Timothy Webb
Keyword(s):  
Mathematical Model ◽  
Spatial Distribution ◽  
Performance Evaluation ◽  
Critical Role ◽  
Principal Agent ◽  
Large Dataset ◽  
Principal Agent Theory ◽  
Agent Theory ◽  
Performance And Evaluation

Index scores and competitive sets (compsets) play a critical role in the performance and evaluation of hotels. The reliance on these metrics has drawn skepticism in recent years as competitive sets may be opportunistically chosen, creating bias in performance evaluation. Drawing from the principal–agent theory and the theory of incentives, we explore whether the distance of the competitors chosen for a hotel’s compset influences revenue per available room (RevPAR) index scores. Based on the concepts of resource similarity and market commonality, we develop a novel mathematical model through which we empirically analyze a large dataset of 10,000 compsets. We find evidence that competitor distance influences index performance and that this relationship is bidirectional. Results show that hotels that outperform the competition may use distance to inflate RevPAR indices, while those that underperform may use distance to further reduce scores. These conflicting results may be reflected from the reverse motivations of the stakeholders.

Indian Principal-Agent Theory, Or, How Varuṇa Helps the King to be Just

2016 ◽  
Vol 70 (2) ◽  
Author(s):  
Harald Wiese
Keyword(s):  
Asymmetric Information ◽  
Principal Agent ◽  
Principal Agent Theory ◽  
Agent Theory

AbstractEconomic principal-agent theory deals with asymmetric information. It has two aspects. (i) If one person is better informed than another one, the former may outwit the latter.

scholarly journals Medical Optimal Payment Mechanism Based on Principal-Agent Theory

2014 ◽  
Vol 26 (11) ◽  
pp. 3381-3387
Author(s):  
Benjiang Ma ◽  
Hongwei Chen ◽  
Beiling Ma ◽  
Xiaohong Chen
Keyword(s):  
Principal Agent ◽  
Principal Agent Theory ◽  
Payment Mechanism ◽  
Agent Theory
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