. For a common resource, we suggest that the benefits of fixed cost allocations lie not in inducing optimal utilization of available capacity but in deciding how much capacity to acquire. In the presence of sequential information asymmetry between the owner and two symmetric users of the resource, we show that cost allocations form a part of the optimal incentive contract. We derive an optimal cost allocation scheme and provide an explicit link between the allocated costs under this scheme and the fixed costs of the resource.
Resume. Selon les auteurs, pour une ressource commune, les avantages de la repartition des couts fixes resident non pas dans l'induction d'une utilisation optimale de la capacite disponible, mais dans la decision relative a la capacite devant etre acquise. En presence d'asymetrie de l'information sequentielle entre le proprietaire et deux utilisateurs symetriques de la ressource, les auteurs demontrent que la repartition des couts est un element qui entre dans le contrat d'interessement optimal. Ils derivent un plan optimal de repartition des couts et etablissent un lien explicite entre les couts repartis au moyen de ce plan et les couts fixes de la ressource.
[1]
Bengt Holmstrom,et al.
Managerial Incentives and Capital Management
,
1986
.
[2]
E. Maskin,et al.
Monopoly with Incomplete Information
,
1984
.
[3]
S. Rosen,et al.
Monopoly and product quality
,
1978
.
[4]
David E. M. Sappington,et al.
Incentive contracting with asymmetric and imperfect precontractual knowledge
,
1984
.
[5]
R. Myerson.
Incentive Compatibility and the Bargaining Problem
,
1979
.
[6]
Russell Cooper,et al.
On Allocative Distortions in Problems of Self-Selection
,
1984
.
[7]
Gary D. Eppen,et al.
Capital Rationing and Organizational Slack in Capital Budgeting
,
1985
.
[8]
John Dickhaut,et al.
Escalation Errors and the Sunk Cost Effect: An Explanation Based on Reputation and Information Asymmetries
,
1989
.
[9]
John C. Fellingham,et al.
Resource Rationing and Organizational Slack in a Two-Period Model
,
1990
.
[10]
Lode Li,et al.
On the allocation of fixed and variable costs from service departments
,
1987
.