The principal/agent paradigm: Its relevance to various functional fields

The principal/agent paradigm: Its relevance to various functional fields

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Article ID: iaor19971
Country: Netherlands
Volume: 70
Issue: 1
Start Page Number: 83
End Page Number: 103
Publication Date: Oct 1993
Journal: European Journal of Operational Research
Authors:
Keywords: principal agent model
Abstract:

The main characteristics of the basic principal/agent model are discussed. Several applications of this model to the fields of accounting, industrial organization, finance and marketing are presented. The potential for application to management science problems is highlighted, and a batch-size problem is analyzed to illustrate the concepts involved. The paper concludes with a discussion of the major criticisms of the agency model.

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