Proceedings of the 2017 International Conference on Applied Mathematics, Modelling and Statistics Application (AMMSA 2017)

The Optimal Design of Hotel Staff Incentive Compensation Contract under Turnover Rate

Authors
Mingyin Xiang, Li Li
Corresponding Author
Mingyin Xiang
Available Online May 2017.
DOI
10.2991/ammsa-17.2017.51How to use a DOI?
Keywords
hotel Industry; the utility function; symmetric information; asymmetric information; turnover rate; salary design
Abstract

In this article, assuming the output of staff can be observed,we construct the principal-agent incentive model between staff and hotel based on utility maximization. The optimal incentive contract including staff turnover rate are respectively constructed under two cases: the staff's effective working time is symmetric information and asymmetric information. Then, it is discussed that how the turnover rate affects the incentive contract and the enthusiasm of staffs.

Copyright
© 2017, the Authors. Published by Atlantis Press.
Open Access
This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

Download article (PDF)

Volume Title
Proceedings of the 2017 International Conference on Applied Mathematics, Modelling and Statistics Application (AMMSA 2017)
Series
Advances in Intelligent Systems Research
Publication Date
May 2017
ISBN
10.2991/ammsa-17.2017.51
ISSN
1951-6851
DOI
10.2991/ammsa-17.2017.51How to use a DOI?
Copyright
© 2017, the Authors. Published by Atlantis Press.
Open Access
This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

Cite this article

TY  - CONF
AU  - Mingyin Xiang
AU  - Li Li
PY  - 2017/05
DA  - 2017/05
TI  - The Optimal Design of Hotel Staff Incentive Compensation Contract under Turnover Rate
BT  - Proceedings of the 2017 International Conference on Applied Mathematics, Modelling and Statistics Application (AMMSA 2017)
PB  - Atlantis Press
SP  - 235
EP  - 239
SN  - 1951-6851
UR  - https://doi.org/10.2991/ammsa-17.2017.51
DO  - 10.2991/ammsa-17.2017.51
ID  - Xiang2017/05
ER  -