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Principal–agent problem. Basic idea of agency theory. The principal–agent problem refers to the conflict in interests and priorities that arises when one person or entity (the "agent") takes actions on behalf of another person or entity (the "principal"). [ 1] The problem worsens when there is a greater discrepancy of interests and ...
The principle of least interest dictates how power is distributed in a relationship and how it is almost always unequally balanced. This unequal balance of power can lead the weaker person to struggle to get a grasp on some of the power. This struggle leads to a conflict between the one with the power and the one without.
A widely used definition is: "A conflict of interest is a set of circumstances that creates a risk that professional judgement or actions regarding a primary interest will be unduly influenced by a secondary interest." [ 2] Primary interest refers to the principal goals of the profession or activity, such as the protection of clients, the ...
Business portal. Money portal. v. t. e. Economics ( / ˌɛkəˈnɒmɪks, ˌiːkə -/) [ 1][ 2] is a social science that studies the production, distribution, and consumption of goods and services. [ 3][ 4] Economics focuses on the behaviour and interactions of economic agents and how economies work.
A variable interest entity ( VIE) is a legal structure defined by the Financial Accounting Standards Board (FASB) for situations where control over a legal entity may be demonstrated through means other than voting rights. A public company with a financial interest in such entities may be subject to certain financial reporting requirements.
The coincidence of wants (often known as double coincidence of wants) [ 1][ 2] [verification needed] is an economic phenomenon where two parties each hold an item that the other wants, so they exchange these items directly. Within economics, this has often been presented as the foundation of a bartering economy. [ 3]
Negotiation is a dialogue between two or more parties to resolve points of difference, gain an advantage for an individual or collective, or craft outcomes to satisfy various interests. The parties aspire to agree on matters of mutual interest. [ 1] The agreement can be beneficial for all or some of the parties involved.
The evident meaning of these last words is not merely subject in some respect or degree to the jurisdiction of the United States, but completely subject to their political jurisdiction and owing them direct and immediate allegiance. And the words relate to the time of birth in the one case, as they do to the time of naturalization in the other.