When a principal hires an agent to carry out specific tasks, the hiring is termed a "principal-agent relationship," or simply an "agency relationship." When a conflict of interest between the needs of ...

This paper expands the literature on the heterogeneity among nursing home facilities by determining whether quality at for-profit nursing homes managed by owner-managers is different from those ...

As a small business owner, it's likely that you routinely employ other people to perform tasks and make decisions on your behalf. Delegating responsibility can take a lot of weight off your shoulders ...

Michael Douglas, in his Academy Award winning portrayal of Gordon Gekko in the movie “Wall Street,” declares in his famous “greed” speech that the company has “33 different vice presidents” that are ...

When we read “The Courtship of Miles Standish” in grade school, I had not yet studied economics, so I didn’t understand the theory underlying John Alden’s quandary or that Priscilla Mullins’ famous ...

In the lens of recent discussion on the 50th anniversary of Milton Friedman’s New York Times essay on shareholder primacy, which I’ve recently written on, I’ve been thinking about a strange decision ...