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英文文献：Optimal Incentive Structure in Cattle Feeding Contracts under Alternative Fed Cattle Pricing Methods-不同饲牛定价方法下饲牛合同的最优激励结构
英文文献作者：Rahman, Shaikh Mahfuzur
英文文献摘要：
Developing a multitask principal-agent model, this paper theoretically analyzes the incentive provisions in the existing cattle feeding contracts under alternative fed cattle pricing methods. Comparative statics from the theoretical model are evaluated by simulation experiments. Feedlot and carcass performance of a large set of feeder steers are simulated employing a dynamic and deterministic bio-physical growth model adapted from the animal science literature. The cattle feeder and the owner's stochastic costs and returns under alternative production technologies and market conditions are then calculated by combining cattle performance data with historical price data. The main finding of this study is that the yardage fee contract is optimal for the cattle owner when the fed cattle are to be priced on the grid and the cost of gain contract is optimal when the cattle are to be marketed according to the live or dressed weight pricing methods.
摘要建立了多任务委托-代理模型，从理论上分析了不同饲牛定价方法下现有饲牛合同中的激励条款。通过仿真实验对理论模型的比较静力学进行了评价。采用取自动物科学文献的动态和确定性生物物理生长模型，模拟了一大批饲喂牛的饲育场和胴体性能。然后，通过将牛的性能数据与历史价格数据相结合，计算出在替代生产技术和市场条件下，牛饲主和牛主的随机成本和收益。本研究的主要发现是,码数收费合同是牛老板当美联储牛最优定价在网格和获得合同的成本最优牛时根据现场销售或穿重量定价方法。
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