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The principal–agent problem refers to the conflict in interests and priorities that arises when one person or entity (the "agent") takes actions on behalf of another person or entity (the "principal"). [1] The problem worsens when there is a greater discrepancy of interests and information between the principal and agent, as well as when the ...
Agent handling. In intelligence organizations, agent handling is the management of so-called agents (called secret agents or spies in common parlance), principal agents, and agent networks (called "assets") by intelligence officers typically known as case officers .
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In commercial law, a principal is a person, legal or natural, who authorizes an agent to act to create one or more legal relationships with a third party. This branch of law is called agency and relies on the common law proposition qui facit per alium, facit per se (from Latin: "he who acts through another, acts personally").
Multiple principal problem. The multiple principal problem, also known as the common agency problem, the multiple accountabilities problem, or the problem of serving two masters, is an extension of the principal-agent problem that explains problems that can occur when one person or entity acts on behalf of multiple other persons or entities. [1]
Agent (economics) In economics, an agent is an actor (more specifically, a decision maker) in a model of some aspect of the economy. Typically, every agent makes decisions by solving a well- or ill-defined optimization or choice problem. For example, buyers ( consumers) and sellers ( producers) are two common types of agents in partial ...
The Office of the Secretary of Defense (OSD) is a headquarters-level staff of the United States Department of Defense.It is the principal civilian staff element of the U.S. Secretary of Defense, and it assists the Secretary in carrying out authority, direction and control of the Department of Defense in the exercise of policy development, planning, resource management, fiscal, and program ...