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The agency problem can be intensified when an agent acts on behalf of multiple principals (see multiple principal problem). [ 6 ] [ 7 ] When multiple principals have to agree on the agent's objectives, they face a collective action problem in governance, as individual principals may lobby the agent or otherwise act in their individual interests ...
The multiple principal problem, also known as the common agency problem, the multiple accountabilities problem, or the problem of serving two masters, is an extension of the principal-agent problem that explains problems that can occur when one person or entity acts on behalf of multiple other persons or entities. [1]
An administrative agency can be captured by a president when he or she appoints a bureaucratic head that reaffirms bureaucratic drift that is favorable to the president's policies. [ 6 ] [ 16 ] In cases where bureaucratic drift is present, scholars believe that the president can change policy more rapidly than in a zero-drift scenario.
An agency cost is an economic concept that ... of University of Chicago titled "Agency Problems and ... the company as well as cause conflicts of interest between ...
Agency law in the United Kingdom is a component of UK commercial law, and forms a core set of rules necessary for the smooth functioning of business. Agency law is primarily governed by the Common law and to a lesser extent by statutory instruments. In 1986, the European Communities enacted Directive 86/653/EEC on self-employed commercial agents.
President Trump’s toppling of the U.S. Agency for International Development this week offered the public its clearest view yet of the chaotic four years to come. Trump’s strategy of ...
In the social sciences there is a standing debate over the primacy of structure or agency in shaping human behaviour. Structure is the recurrent patterned arrangements which influence or limit the choices and opportunities available. [1] Agency is the capacity of individuals to act independently and to make their own free choices. [1]
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