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Resource Allocation in Projects with Stochastic Activity Dura
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assume asymmetric information Bayiz and Corbett beta distributions concave concave function consider constraints contract parameters convex convex function cost of effort critical path decrease define depend derive deterministic distributed random variables duration of task Elmaghraby European Journal expected activity durations expected duration expected profit expected project duration exponentially distributed random first-best effort levels first-order conditions fixed-price contracts given in Figure hypoexponential distribution IC constraints incentive contracting problem information asymmetry Journal of Operational linear programming literature Markov chain maximize moral hazard MTTA normally distributed numerator Operational Research optimal contract optimal effort levels optimal linear contract output paper payment principal multi-agent principal's profit principal's revenue project completion project manager project manager's project network project scheduling Proof for Theorem resource allocation risk aversion serial activity sub-projects subcontractors time-cost trade-off unit earliness bonus unit lateness penalty variability in activity variance Wi(di wudu