An analysis of the agency costs in economic theory, their implications, and associated frameworks.
An examination of the agency problem, defined as the difficulties encountered when a principal delegates a task to an agent, highlighting issues of asymmetric information and incomplete contracts.
The study of contracts, focusing on the design of contracts to provide appropriate incentives.
The observation that a contract promising payment for certain events changes behavior to increase the likelihood of these events.
An explanation of the term 'principal' in economic and business contexts, including the principal-agent relationship.
Definition and implications of the term Reservation Utility
