プリンシパルとエージェントの関係におけるインセンティブ

The main challenge in a principal-agent relationship is aligning the agent’s goals with the principal’s goals, particularly when monitoring the agent’s actions is difficult.

Incentives can help align the goals of the agent with the principal.

For example, in a corporate setting, one of the agents of shareholders could be the Chief Executive Officer or CEO.

The CEO’s compensation typically includes a combination of base pay and performance-based incentives, such as bonuses. This performance-based element is designed to align the goals of the CEO with those of the shareholders.

For instance, bonuses are often tied to company profits. Higher profits result in higher bonuses, while lower profits lead to lower bonuses for the CEO. 

Similarly, incentives are commonly used for other roles within the company, such as sales positions. For example, a sales team member might be offered commission-based compensation, which motivates the member to close deals, a goal that benefits the company. 

In both cases, even with less supervision, agents are motivated to work diligently to earn higher bonuses and commissions, thereby aligning their objectives with the principals.