Primary and secondary producers: Economic implications of contracts in the food marketing chain
用委托代理模型研究地理受限地区大型加工商的最优合同设计，考虑了价格风险、风险偏好和技术参数，对农业经济学和食品营销领域有参考价值。
In this paper a principal-agent model is used to examine the optimal contracting problem of a large processor situated in a geographically limited area. The model is an extension of Holthausen's result (1979). The model design considers various degrees of price-risk exposure for raw material and processed products, risk preferences and technology parameters. The optimal contract is endogenously determined and shown to be a function of technology parameters, factor prices, risk measures in the spot markets and risk preferences of the parties involved. Copyright 1995 by Oxford University Press.