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Record W3123148019 · doi:10.3386/w15051

Generalized Agency Problems

2009· report· en· W3123148019 on OpenAlexaff
Randall Mørck

Bibliographic record

VenueNational Bureau of Economic Research · 2009
Typereport
Languageen
FieldEconomics, Econometrics and Finance
TopicEconomic Theory and Institutions
Canadian institutionsUniversity of Alberta
Fundersnot available
KeywordsAgency (philosophy)Computer scienceStatisticsMathematicsEconometricsEpistemologyPhilosophy

Abstract

fetched live from OpenAlex

Agency problems in economics virtually always entail self-interested agency exhibiting "insufficient" loyalty to principal.Social psychology also has a literature, mainly derived from work by Stanley Milgram, on issues of agency, but this emphasizes excessive loyalty -people undergoing a so-called "agentic shift" and forsaking rationality for loyalty to a legitimate principal, as when "loyal" soldiers obey orders to commit atrocities.This literature posit that individuals experience a deep inner satisfaction from acts of loyalty -essentially a "utility of loyalty" -and that this both buttresses institutions organized as hierarchies and explains much human misery.Agency problems of excessive loyalty, as when boards kowtow to errant CEOs and controlling shareholders, may be as economically important in corporate finance as the more familiar problems of insufficient loyalty of corporate insiders to shareholders.Overt conflict between rival authorities is shown to reverse the "agentic shift" -justifying institutions that formalize argumentation such as the adversary system in Common Law courts; the Official Opposition in Westminster democracies; discussants and referees in academia; and independent directors, non-executive chairs, and proxy contests in corporate governance.

Fetched live from OpenAlex and de-inverted. Abstracts are not stored in this database: the inverted indexes are 8.6 GB of the frame’s 9.3 GB of text, and the host has 13 GB free.

How this classification was reachedexpand

Full frame machine prediction

Teacher imitation

Not calibrated prevalence, not ground truth. Human validation pending. The Gemma side is a direct model label for every work in the frame, read from the title-only record. The Codex side is a classifier learned from the 10,348 direct Codex labels and calibrated to design-weighted sample rates; fields without enough sample support carry no Codex call. Candidate is the union of the two sides; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels.

metaresearch head score (Codex)0.004
metaresearch head score (Gemma)0.011
Version: metacan-v3-hybrid-931329e0061cValidation status: machine_predicted_unvalidated
Candidate categoriesnone
Consensus categoriesnone
DomainCandidate signal: none · Consensus signal: none
Study designCandidate signal: Theoretical or conceptual · Consensus signal: Theoretical or conceptual
GenreCandidate signal: Other · Consensus signal: Other
Teacher disagreement score0.014
Threshold uncertainty score0.047

Distilled classifier scores by category (both heads)

CategoryCodexGemma
Metaresearch0.0040.011
Meta-epidemiology (narrow)0.0010.000
Meta-epidemiology (broad)0.0010.002
Bibliometrics0.0020.002
Science and technology studies0.0020.008
Scholarly communication0.0060.007
Open science0.0020.004
Research integrity0.0040.005
Insufficient payload (model declined to judge)0.0140.002

Machine scores (provisional)

The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.

Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.

Opus teacher head0.437
GPT teacher head0.467
Teacher spread0.030 · how far apart the two teachers sit on this one work
Validation statusscore_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from it

Classification

machine, unvalidated

Machine predicted; a candidate call from one source (direct Gemma or distilled Codex), not a consensus.

The models applied no category: nothing in the taxonomy fit this work.
Study designTheoretical or conceptual
Domainnot available
GenreOther

How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".

Quick stats

Citations4
Published2009
Admission routes1
Has abstractyes

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