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英文文献：Governance Issues in the Principal-Agent Framework: Producing Cellulosic Ethanol in Michigan-委托代理框架中的治理问题:在密歇根州生产纤维素乙醇
英文文献作者：Pandey, Vivek,Shanoyan, Aleksan,Ross, Brent
英文文献摘要：
This article analyzes the incentives and compensation problems faced by cellulosic ethanol producer and logging firms and the consequent impact on the organization of the wood based cellulosic ethanol industry in the US. The success of this relationship is central to setting up the biofuel industry in Michigan and in the US at large. The theoretical results indicate that specification contract under the principal-agent framework is of limited utility due to’ metering’ problem when the principal contracts with multiple agents for the supply of feedstock.. Alternative arrangements including JVs have the potential to provide close to first best solutions.
本文分析了美国纤维素乙醇生产商和伐木公司面临的激励和补偿问题，以及由此对美国木材纤维素乙醇工业组织的影响。这种关系的成功，对于在密歇根州乃至整个美国建立生物燃料行业至关重要。理论结果表明，在委托-代理框架下，当委托人与多个代理人签订原料供应合同时，由于“计量”问题，规格合同的效用有限。包括合资企业在内的其他安排有可能提供接近第一的最佳解决方案。
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