The Opportunistic Principal

Kyklos1.90
Volume: 72, Issue: 4, Pages: 637 - 657
Published: Nov 1, 2019
Abstract
This article sheds light on a surprisingly persistent gap in economic theory: Economists have extensively studied agency relationships between principals and agents, but economic analysis has traditionally been preoccupied with problems created by agents rather than principals. Principal‐agent theory traditionally neglects opportunism on part of the principals. As a result, economic theory fails to fully explain gaps in economic performance....
Paper Details
Title
The Opportunistic Principal
Published Date
Nov 1, 2019
Journal
Volume
72
Issue
4
Pages
637 - 657
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