Considering the cost of observation, this paper puts forward the state-observation model and analyzes the informational asymmetry with Baysian theorem. Then we discuss the impacts of different observation level on agent's effort, risky cost and agency cost, etc.
本文考虑到委托人对自然状态的观测成本 ,提出了「状态观测模型」 ,并对信息不对称问题作了贝叶斯分析 ,讨论了不同观测力度对代理人努力水平、风险成本和代理成本等的作用。