Schnedler, Wendelin (contributor) - 2006
and Suh
(1991) show that a larger signal-noise ratio (more responsiveness) indicates
lower agency costs (higher surplus …-exponential-normal
(LEN) model by Spremann (1987) in the multi-task agency problem of Holm-
str¨om and Milgrom (1991).
In this model, the … as characteris-
tics of the performance measure, we want to return to the agency problem.
What is the maximal surplus …