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1、本科毕业设计（论文）外文翻译PerformanceEvaluationsandEfficientSortingMuchoftheproductioninfirmstakesplaceovertime.Thispaperseekstounderstandthevalueofinterimperformanceinformationonlongprojects.Inparticular,themodelexploresthesortingeffectsofperformanceevaluations.Conduct
2、inganinterimperformanceevaluationincreasesefficiencybyprovidingtheoptiontoendprojectswithlowearlyreturns.Themainresult:Itisefficienttoallocatemoreresourcestowardstheendofaproject.Thisresultholdsunderavarietyofscenarios:whentheworkerhasunknownability,whentheo
3、utsideoptionsvarywithoutput,andevenunderanagencyframeworkwitharisk-averseagent.Theproductionofgoodsandservicestakestime.Ittakestimetobuildcars,writesoftware,developdrugs,formulatestrategy,marketproducts,auditclients,andvaluecompanies.Infact,manyfirmstodayorg
4、anizetheirproductionintheformofprojectsthatrunforweeks,months,orevenyearsatatimebeforethefirmcansellthefinishedproductinamarket.Forexample,softwaredevelopmentrunsthroughdesign,implementation,andtestingstagesbeforefinalrelease.Thispaperexaminestheproblemofper
5、formanceevaluationbeforeaprojectisfinished.Themainideaisthatperformanceevaluationsgenerateefficientsorting.Theyprovidethefirmwiththeoptionofendingprojectswithlowearlyreturns.Aperformanceevaluationconductedattheinterimstagesortsemployeesintotwogroups:stayorqu
6、it.Itisefficienttoquitiftheearlyreturnsareweak,andtostayotherwise.Iftheagent’searlyoutputislow,itisintheinterestofboththefirmandtheagenttodiscontinueworkandcollecttheirrespectiveoutsideoptions.Inthissense,theperformanceevaluationassignsanagenttohismosteffici
7、entuse.Theroleoftheevaluation,therefore,istoperformthissorting.Interimperformanceevaluationschangetheefficientallocationofre-sourcesovertimeinsurprisingways.Themainresultshowsthatitisefficienttoassignmoreresourcestothelaterstagesoftheproject.Theevaluationcre
8、atesthepossibilityofterminationaftertheearlystage,whichreducesthemarginalreturnfromfirst-stageeffort,andsotheagentshadeshiseffortdownwardintheearlystage.Oncetheagentadvances,thepossibilityofterm
