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The principal–agent problem typically arises where the two parties have different interests and asymmetric information (the agent having more information), such that the principal cannot directly ensure that the agent is always acting in the principal's best interest, particularly when activities that are useful to the principal are costly to ...
During Tony Blair's administration, the prime minister (as Minister for the Civil Service) modified the law under which the Civil Service operated (through an Order in Council) which gave power to the newly created role of Downing Street Chief of Staff (a politically appointed special adviser) to give instructions to civil servants and outranked the principal private secretary in the Downing ...
For U.S. federal income tax purposes, currently applicable Treasury Regulations define a Notional Principal Contract as "a financial instrument that provides for the payment of amounts by one party to another at specified intervals calculated by reference to a specified index upon a notional principal amount in exchange for specified consideration or a promise to pay similar amounts."
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The cover of The Peter Principle (1970 Pan Books edition). The Peter principle is a concept in management developed by Laurence J. Peter which observes that people in a hierarchy tend to rise to "a level of respective incompetence": employees are promoted based on their success in previous jobs until they reach a level at which they are no longer competent, as skills in one job do not ...
Taking k such that φ + 2k π is within the defined interval for the principal arguments, then a k is called the principal value of the logarithm, denoted Log(z), again with a capital L. The principal argument of any positive real number x is 0; hence Log( x ) is a real number and equals the real (natural) logarithm.
The principal quantum number was first created for use in the semiclassical Bohr model of the atom, distinguishing between different energy levels. With the development of modern quantum mechanics, the simple Bohr model was replaced with a more complex theory of atomic orbitals. However, the modern theory still requires the principal quantum ...
Unlike the principal, the vice-principal does not have quite the decision-making authority that the principal carries. Although they still carry nearly the same authority among students, vice-principals do not have the same power on the board. Experience as an assistant principal is often a prerequisite for advancement to a principalship.