Agency problem

Iatrogenics is compounded by the ?agency problem? or ?principal-agent problem,? which emerges when one party (the agent) has personal interests that are divorced from those of the one using his services (the principal). An agency problem, for instance, is present with the stockbroker and medical doctor, whose ultimate interest is their own checking account, not your financial and medical health, respectively, and who give you advice that is geared to benefit themselves. Or with politicians working on their career.

Bron: Nassim Nicholas Taleb, Antifragile, Random House, 2012. Dit boek bij en

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