Problém zastoupení v nové institucionální ekonomii

The Agency Problem in New Institutional Economics

Tomáš Otáhal ()

Politická ekonomie, 2009, vol. 2009, issue 5, 677-695

Abstract: The aim of the paper is to set the agency problem into a broad context of New Institutional Economics with an emphasis on historical connections. In the first section, I explain the historical evolution of basic theoretical concepts like the theory of firm, the theory of market process and the theory of property rights. The second section is dedicated to the explanation of the general concept of agency problem extended with the problem of asymmetric information leading to adverse selection and the problem of moral hazard, in context of previous historical connections. In the last section, the author provides some suggestions for the further theoretical and empirical research.

Keywords: new institutional economics; asymmetric information; Moral hazard; Agency theory; adverse selection (search for similar items in EconPapers)
JEL-codes: B25 L20 L26 P11 P14 (search for similar items in EconPapers)
Date: 2009
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DOI: 10.18267/j.polek.704

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