Analysis for Principal-Agent Relationship between Owner and Construction Agent of Agent-Construction Project

According to the basic logic of principal-agent theory in information economics, and in combination with the connotation of management mode for agent-construction project, a principal-agent model for the relationship between owners and constructions agent was established. The model has been used to analyze the principal-agent problem of owners and construction agents. As is shown in the analysis results, incentive mechanisms and supervision mechanisms can stimulate construction agents to do better; however, the traditional mode that increases in fixed remuneration has no effect on it. In addition, an increase in fixed remuneration is only the precondition for cooperation between owner and construction agent. A supervision mechanism has a negative impact on the construction agent; for the owner, it is necessary to use it with caution.