Study of a Principal-agent Problem on Bayes Theorem
Zhigang Liu · Journal of Jiamusi University · 2007
To research a class of principal-agent problem,this paper proposed a method to obtain information indirectly by means of observing agent in multi-state of nature,and on the basis of information observed,the assumption of prior probability of natural state through employing Bayes theorem was modified.Through analysis of multi-nature of state,this paper makes it perfectly match the actual situation of multi-cause about principal-agent problems.A detailed analysis of information-asymmetry principal-agent problems is conducive to establish and improve principal-agent mechanisms in all fields,so that the management efficiency was enhanced.