In principal-agent models, a principal offers a contract to an agent to perform a certain task. The agent exerts a level of effort that maximizes her utility. The principal is oblivious to the agent's chosen level of effort, and conditions her wage only on possible outcomes. In this work, we consider a model in which the principal is unaware of the agent's utility and action space: she sequentially offers contracts to identical agents, and observes the resulting outcomes. We present an algorithm for learning the optimal contract under mild assumptions. We bound the number of samples needed for the principal to obtain a contract that is within $\eps$ of her optimal net profit for every $\eps>0$. Our results are robust even when considering risk-averse agents. Furthermore, we show that when there are only two possible outcomes or the agent is risk-neutral, the algorithm's outcome approximates the optimal contract described in the classical theory.
翻译:在主要试剂模型中,委托人向代理人提供履行某项任务的合同。代理人做出了一定程度的努力,使其功用最大化。委托人忽略了代理人所选择的努力水平,而将她的工资仅以可能的结果为条件。在这项工作中,我们考虑的模型是委托人不知道代理人的效用和行动空间:她依次向同质代理人提供合同,并观察由此产生的结果。我们提出了一个在温和假设下学习最佳合同的算法。我们把委托人获得合同所需的样品数量定在每1美元的最佳净利润的$/百分数之内。我们的结果是稳健的,即使考虑到反风险的代理人。此外,我们表明,当只有两种可能的结果或代理人没有风险时,算法的结果与古典理论中描述的最佳合同相近。