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Agency problem: Difference between revisions
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Any one of its agents is charged with protecting the principal’s interests, but two overriding considerations will inevitably take priority: (i) their wish to protect and perpetuate their own role ''as'' agent, and its accompanying income stream — their need to ''persuade the principal that their role is needed'' whether or not it ''is'' needed — no turkey votes for Christmas; and (ii) their wish to not ''fuck up'' — to demonstrate that not only is the role necessary but ''I am the best person to carry out that role''. | Any one of its agents is charged with protecting the principal’s interests, but two overriding considerations will inevitably take priority: (i) their wish to protect and perpetuate their own role ''as'' agent, and its accompanying income stream — their need to ''persuade the principal that their role is needed'' whether or not it ''is'' needed — no turkey votes for Christmas; and (ii) their wish to not ''fuck up'' — to demonstrate that not only is the role necessary but ''I am the best person to carry out that role''. | ||
==Scale== | ==Scale== | ||
Another “tell” is for the size of money at stake to be so large that even a legal bill in the tens of millions will amount to a rounding error. | Another “tell” is for the size of money at stake to be so large that even a legal bill in the tens of millions will amount to a rounding error. | ||
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{{Sa}} | {{Sa}} | ||
*[[The domestication of law]] | |||
*[[Reliance on legal advice]] | *[[Reliance on legal advice]] | ||
*[[Stakeholder capitalism]] | *[[Stakeholder capitalism]] | ||