Define the principal-agent problem and its relevance for understanding interactions among Congress, the president, and federal bureaucracies. Which institution or set of institutions usually acts as the principal, and which acts as the agent? What mechanisms and strategies are available to the principal to control the agent and minimize shirking?

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The Answer of Define the principal-agent problem and its relevance for understanding interactions among Congress, the president, and federal bureaucracies. Which institution or set of institutions usually acts as the principal, and which acts as the agent? What mechanisms and strategies are available to the principal to control the agent and minimize shirking?

Define the Principal-Agent Problem and Its Relevance for Understanding Interactions