Principal–agent problem
The principal–agent problem (often abbreviated agency 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"). The problem worsens when there is a greater discrepancy of interests and information between the principal and agent, as well as when the principal lacks the means to punish the agent. The deviation of the agent's actions from the principal's interest is called "agency cost".
Principal–agent problem - Wikipedia Jump to content From Wikipedia, the free encyclopedia Conflict of interest when one person acts on another's behalf This article has multiple issues. Please help improve it or discuss these issues on the talk page . ( Learn how and when to remove these messages ) This article may be too technical for most readers to understand . Please help improve it to make it understandable to non-experts , without removing the technical details. ( May 2023 ) ( Learn how and when to remove this message ) This article has an unclear citation style . The references used may
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