Shadow Price in Supply Chain Relationships (CROSBI ID 561022)
Prilog sa skupa u zborniku | izvorni znanstveni rad | međunarodna recenzija
Podaci o odgovornosti
Tipurić, Darko ; Prester, Jasna
engleski
Shadow Price in Supply Chain Relationships
Supply chain interactions can partly be described by Agency Theory. Yet according to Salanié (2003), Agency Theory has still not received enough empirical validation. We propose a validation in supply chain context. Although we do not enter into psychological or social reasons for partnering, we included subjective probability introduced by Kahnneman and Tversky in their seminal paper in Econometrica (1979), which led to evolution of Prospect Theory. Using Prospect theory’s Value functions in classical derivation of the optimal contract, we derive the analytical form of the Lagrange multiplier (shadow price) which we then test and empirically derive the value of this multiplier in a large scale supply chain survey.
Agency theory; Supply Chain; Supplier relationships; Prospect theory; Lagrange multipliers; Shadow price
nije evidentirano
nije evidentirano
nije evidentirano
nije evidentirano
nije evidentirano
nije evidentirano
Podaci o prilogu
2009.
objavljeno
Podaci o matičnoj publikaciji
Proceedings of 20th POMS conference
Podaci o skupu
20 th Production and Operations Management Society Conference
predavanje
01.05.2009-04.05.2009
Orlando (FL), Sjedinjene Američke Države