“The relationship of agency is one of the oldest and commonest codified codes of social interaction. We will say that an agency relationship has arisen between two (or more) parties when one, designated as the agent, acts for the other, designated the principal, in a particular domain of decision problems. Examples of agency are universal.”

—  Stephen A. Ross

Stephen A. Ross "The Economic Theory of Agency: The Principal's Problem," Amer. Econom. Rev., 63 (1973), 134-139; As cited in Eisenhardt (1985, 136)

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