Research on Multiprincipals Selecting Effective Agency Mode in the Student Loan System

Table 2

Different outputs under three modes when one variance (𝜎²₂) changes.

Common agency								Exclusive dealing
Independent contracting mode				Cooperation mode
𝜎^22	100	36	9	𝜎^22	100	36	9	𝜎^22	100	36	9
𝛽^∗𝐼1	0.1490	0.1231	0.1116	𝛽^∗𝐶	1.1317	1.1010	1.0885	𝛽^∗𝐸1	0.9804	0.9804	0.9804
𝛽^∗𝐼2	0.9356	0.9681	0.9826					𝛽^∗𝐸2	0.9474	0.9804	0.9950
𝑎^∗𝐼1	2.0226	2.0295	2.0325	𝑎^∗𝐶1	2.3629	2.2987	2.2726	𝑎^∗𝐸1	0.9804	0.9804	0.9804
𝑎^∗𝐼2	5.8193	6.0027	6.0840	𝑎^∗𝐶2	4.1040	3.9925	3.9472	𝑎^∗𝐸2	2.8421	2.9412	2.9851
𝜋^∗𝐼1	2.0226	2.0295	2.0325	𝜋^∗𝐶	6.4669	6.2912	6.2199	𝜋^∗𝐸1	0.9804	0.9804	0.9804
𝜋^∗𝐼2	17.4578	18.0082	18.2520					𝜋^∗𝐸2	8.5263	8.8235	8.9552
𝜋^∗𝐼(sum)	19.4804	20.0377	20.2845	𝜋^∗𝐶(sum)	6.4669	6.2912	6.2199	𝜋^∗𝐸(sum)	9.5067	9.8039	9.9366