杜克大学教授孙彭:促使持续努力的最优合约

 杜克大学教授孙彭:促使持续努力的最优合约

【主讲】孙彭, 杜克大学教授

【题目】促使持续努力的最优合约

【时间】201662210:00-12:00

【地点】清华经管学院伟伦楼453

【语言】英文 

【主办】管理科学与工程系

【简历】孙老师的简历

 

SpeakerPeng Sun, Professor, Duke University

TitleOptimal Contract to Induce Continued Effort

Time2016.06.22, 10:00-12:00

VenueRoom 453, Weilun Building, Tsinghua SEM 

Language English

OrganizerDepartment of Management Science and Engineering

AbstractWe consider a basic model of a risk neutral principal incentivizing a risk neutral agent to exert effort in order to raise the arrival rate of a Poisson process. The effort is costly to the agent, unobservable to the principal, and affects the instantaneous arrival rate. Each arrival yields a constant revenue to the principal. The principal, therefore, devises a mechanism involving payments and a potential stopping time in order to motivate the agent to always exert effort. We formulate this problem as a stochastic optimal control model with incentive constraint in continuous time over an infinite horizon. Although we allow payments to take general forms contingent upon past arrival times, the optimal contract has a simple and intuitive structure, which depends on whether the agent is as patient as or less patient than the principal towards future income.

BioAlfred holds a doctoral degree in Business Administration from WU Vienna, a Magister Degree in Management Information Systems from Vienna University and a PhD (Habilitation) from WU Vienna in both fields. After assistant professorships at WU in the areas Operations Research and Applied Informatics he was visting professor at Universities Augsburg, Münster, Essen and Tsukuba, Japan and joined WU in 1993. There he coordinated large scale research projects such as WWTF-project "Integrated Demand and Supply Chain Management" and the Special Research Area Adaptive Models in Economics and Management Science. His teaching includes an undergraduate course in Operations Strategy and an IT seminar on the master level. Alfred has undertaken research in the interface of Operations and Supply Chain Management, Marketing Engineering and Knowledge Management. He has published more than 150 articles, among ohters in international top journals like Mangement Science, European Journal of Operational Research, International Journal of Production Economics, Marketing Science and MIS Quarterly. His actual research interests are on the impact of Big Data on Operations, knowledge creation in Start Ups and Decision Making under Partial Knowledge.