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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 ]
Agency (law), a person acting on behalf of another person; Agency (moral), capacity for making moral judgments; Agency (philosophy), the capacity of an autonomous agent to act, relating to action theory in philosophy; Agency (psychology), the ability to recognize or attribute agency in humans and non-human animals
Agency is contrasted to objects reacting to natural forces involving only unthinking deterministic processes. In this respect, agency is subtly distinct from the concept of free will, the philosophical doctrine that our choices are not the product of causal chains, but are significantly free or undetermined. Human agency entails the claim that ...
The concept of agency implies an active organism, one who desires, makes plans, and carries out actions. [5] The sense of agency plays a pivotal role in cognitive development, including the first stage of self-awareness (or pre-theoretical experience of one's own mentality), which scaffolds theory of mind capacities.
A government agency or state agency, sometimes an appointed commission, is a permanent or semi-permanent organization in the machinery of government (bureaucracy) that is responsible for the oversight and administration of specific functions, such as an administration. [1]
In the social sciences there is a standing debate over the primacy of structure or agency in shaping human behaviour. Structure is the recurrent patterned arrangements which influence or limit the choices and opportunities available. [1] Agency is the capacity of individuals to act independently and to make their own free choices. [1]
The agency problem can be intensified when an agent acts on behalf of multiple principals (see multiple principal problem). [ 6 ] [ 7 ] When multiple principals have to agree on the agent's objectives, they face a collective action problem in governance, as individual principals may lobby the agent or otherwise act in their individual interests ...
The agency protects market participants against manipulation, abusive trade practices, and fraud. Through oversight and regulation, the CFTC enables the markets to serve better their important functions in the US economy, providing a mechanism for price discovery and a means of offsetting price risk.