A principle-agent problem with heterogeneous demand distributions for a carbon capture and storage system
| dc.contributor.author | Cai, W. | |
| dc.contributor.author | Singham, D.I. | |
| dc.date.accessioned | 2017-08-03T15:19:46Z | |
| dc.date.available | 2017-08-03T15:19:46Z | |
| dc.date.issued | 2017 | |
| dc.identifier.citation | W. Cai, D.I. Singham, "A principal-agent problem with heterogeneous demand distributions for a carbon capture and storage system," European Journal of Operational Research, (2017), pp. 1-18 | en_US |
| dc.identifier.uri | https://hdl.handle.net/10945/55359 | |
| dc.description | The article of record as published may be found at http://dx.doi.org/10.1016/j.ejor.2017.06.009 | en_US |
| dc.description | Article in Press | |
| dc.description.abstract | Mechanism design problems optimize contract offerings from a principal to different types of agents who have private information about their demands for a product or a service. We study the implications of uncertainty in agents’ demands on the principal’s contracts. Specifically, we consider the setting where agents’ demands follow heterogeneous distributions and the principal offers a menu of contracts stipulating quantities and transfer payments for each demand distribution. We present analytical solutions for the special case when there are two distributions each taking two discrete values, as well as a method for deriving analytical solutions from numerical solutions. We describe one application of the model in carbon capture and storage systems to demonstrate various types of optimal solutions and to obtain managerial insights. | en_US |
| dc.description.sponsorship | National Science Foundation | en_US |
| dc.format.extent | 18 p. | en_US |
| dc.publisher | Elsevier | en_US |
| dc.rights | This publication is a work of the U.S. Government as defined in Title 17, United States Code, Section 101. Copyright protection is not available for this work in the United States. | en_US |
| dc.title | A principle-agent problem with heterogeneous demand distributions for a carbon capture and storage system | en_US |
| dc.type | Article | en_US |
| dc.contributor.corporate | Naval Postgraduate School (U.S.) | en_US |
| dc.contributor.department | Operations Research (OR) | en_US |
| dc.subject.author | Game theory | en_US |
| dc.subject.author | Mechanism design | en_US |
| dc.subject.author | Heterogeneous demands | en_US |
| dc.subject.author | Uncertainty | en_US |
| dc.subject.author | Carbon capture and storage (CCS) | en_US |
| dc.description.funder | Grant CMMI-1535762 (NSF) | en_US |
| dc.description.funder | Grant CMMI-1535831 (NSF) | en_US |
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