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The multiple principal problem, also known as the common agency problem, the multiple accountabilities problem, or the problem of serving two masters, is an extension of the principal-agent problem that explains problems that can occur when one person or entity acts on behalf of multiple other persons or entities. [1]
Many early international legal theorists were concerned with axiomatic truths thought to be reposed in natural law.Sixteenth century natural law writer, Francisco de Vitoria, a professor of theology at the University of Salamanca, examined the questions of the just war, the Spanish authority in the Americas, and the rights of the Native American people.
In economic theory, the principal-agent approach (also called agency theory) is part of the field contract theory. [36] [37] In agency theory, it is typically assumed that complete contracts can be written, an assumption also made in mechanism design theory. Hence, there are no restrictions on the class of feasible contractual arrangements ...
New York University School of Law (Program for History and Theory of International Law) The Fletcher School of Law and Diplomacy; University of British Columbia (Law faculty) Harvard University (European Law Research Center) Institute of State and Law (Institute of State and Law, Russian Academy of Sciences) Leiden University (A. Wijffels)
Agency law in the United Kingdom is a component of UK commercial law, and forms a core set of rules necessary for the smooth functioning of business. Agency law is primarily governed by the Common law and to a lesser extent by statutory instruments. In 1986, the European Communities enacted Directive 86/653/EEC on self-employed commercial agents.
Regime theory is a theory within international relations derived from the liberal tradition which argues that international institutions or regimes affect the behavior of states or other international actors. [1] It assumes that cooperation is possible in the anarchic system of states, as regimes are, by definition, instances of international ...
The theory and terminology of private law was far more developed among the Romans than that of international law. [18] The earliest form of international law was religious and pertained to the concept of the "just war" ( bellum iustum ), which should only be undertaken with a ritualized declaration of war by the fetial priests. [ 19 ]
In social science, agency is the capacity of individuals to have the power and resources to fulfill their potential. Social structure consists of those factors of influence (such as social class, religion, gender, ethnicity, ability, customs, etc.) that determine or limit agents and their decisions. [ 1 ]