The Impact of Risk Attitude on the Optimal Compensation Plan in a Multi-product Situation
作者:
BergerPaul D.,
JaffeLynn J.,
期刊:
Journal of the Operational Research Society
(Taylor Available online 1991)
卷期:
Volume 42,
issue 4
页码: 323-330
ISSN:0160-5682
年代: 1991
DOI:10.1057/jors.1991.70
出版商: Taylor&Francis
关键词: compensation;risk;salesforce
数据来源: Taylor
摘要:
AbstractThis paper examines the role of uncertainty and risk in determining the optimal commission rates a company should choose for each product of a salesman's product line. We assume that sales for each product are a stochastic function of the time (sales effort) allocated to that product. When sales are assumed to be deterministic, we achieve optimality when each product's commission is the same fraction of its gross margin. However, we determine here that when sales are stochastic this may no longer be true. Optimality conditions require explicit consideration of the utility function of the salesman and the moments of the sales response function.
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