Making explicit a tacit element of my replies that may not have been clear: I don’t think “principal-agent problems” functions as an alternative explanation here; it seems like a mere description of an aspect of my explanation, which additionally (partially) answers the question of why these principal-agent problems are so pronounced while others don’t seem to matter much.
Making explicit a tacit element of my replies that may not have been clear: I don’t think “principal-agent problems” functions as an alternative explanation here; it seems like a mere description of an aspect of my explanation, which additionally (partially) answers the question of why these principal-agent problems are so pronounced while others don’t seem to matter much.