From: Reducing the quality risk of elderly care services in government procurement from market-oriented private providers through ex ante policy design: lessons from the principal-agent theory analysis
Stakeholders
Benefits
Costs
Government
U(λ, q(x))
p(x)q(x)
Market-oriented private providers
p(x)q(x) + w(σ, ε, x)
C(θ, q(x), x)