Journal of Food, Agriculture and Environment
Vol 10,
Issue 3&4,2012
Online ISSN: 1459-0263
Print ISSN: 1459-0255
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Application of dynamic game principal-agent model to manage municipal solid waste
Author(s):
Zhujie Chu 1*,
Bao Xi 2, Zhiyong He 1, Xiuhua Zhang1, Defeng Sun1, Yuchao Liang 1Recieved Date: 2012-05-24, Accepted Date: 2012-10-02
Abstract:Inhabitants have played a prominent role in municipal solid waste management (MSWM), so municipal government is no longer only principal subject. New principal-agent relationships have formed: one is economic performance principal-agent between municipal government and private company, the other is environmental performance between inhabitants and private company. Therefore, it is important to analyze the relationships. A dynamic game principal-agent model is presented on the basis of principal-agent theory referring to Holmstrom and Milligram model. Under rational economic man and risk aversion hypothesis conditions, the article systematically analyzes variable changes and concludes the dynamic game relationships among relevant variables according to observable effort level of private company’s economic performance and environmental performance.
Keywords:Municipal solid waste management,
principal-agent model, incentive-supervision, municipal government, inhabitants, private companyJournal: Journal of Food, Agriculture and Environment
Year: 2012
Volume: 10
Issue: 3&4
Category: Environment
Pages: 1500-1504
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