Lecture Note 1 Agency Theory R. Gibbons MIT（上课笔记1代理理论r·吉本斯麻省理工学院）.pdfVIP

Lecture Note 1 Agency Theory1 R. Gibbons MIT This note considers the simplest possible organization: one boss (or “Principal”) and one worker (or “Agent”). One of the earliest applications of this Principal-Agent model was to sharecropping, where the landowner was the Principal and the tenant farmer the Agent, but in this course we wi