Season 3 · Episode 35
Tips for Overcoming the Principal-Agent Problem
The Behavioral Economics in Marketing's Podcast
July 8, 202112m 43s
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Show Notes
The "Principal-Agent Problem" is an economic term for the competing priorities between a leader and an employee. In the workplace, the "Principal-Agent Problem" looks like employees showing up late, taking long lunches, browsing the internet on the clock, procrastinating and missing deadlines. A few ways that leaders can overcome the "Principal-Agent Problem" is through transparency, motivation, incentives and communication.