<p>The term principal-agent problem is due to <a href="http://www3.uah.es/econ/MicroDoct/Ross_1973_The%20economic%20theory%20of%20agency.pdf" rel="nofollow noreferrer">Ross</a> (1973) (per Stiglitz, <a href="https://link.springer.com/chapter/10.1007/978-1-349-20215-7_25" rel="nofollow noreferrer">1989</a>). Other early contributions to this literature include Mirrlees (<a href="https://scholar.google.co.uk/scholar?hl=fr&amp;as_sdt=0%2C5&amp;q=Mirrlees%2C%20J.%201974.%20Notes%20on%20welfare%20economics%2C%20information%2C%20and%20uncertainty.%20In%20Contributions%20to%20Economic%20Analysis%2C%20ed.%20M.S.%20Balch%2C%20D.L.%20McFadden%20and%20S.Y.%20Wu%2C%20Amsterdam%3A%20North-Holland.&amp;btnG=" rel="nofollow noreferrer">1974</a>, <a href="http://www.course.sdu.edu.cn/G2S/eWebEditor/uploadfile/20120410084219_750513193492.pdf" rel="nofollow noreferrer">1976</a>) and Stiglitz <a href="https://www.isid.ac.in/~tridip/Teaching/DevelopmentMicroeconomics/Readings/04LandMarket/01Stiglitz-ReStud1974.pdf" rel="nofollow noreferrer">1974</a>, <a href="http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.467.1328&amp;rep=rep1&amp;type=pdf" rel="nofollow noreferrer">1975</a>).</p>

CC BY-SA 4.0
2019-04-21T17:05:45.393Z
2020-05-22T10:09:13.343Z
2020-05-22T10:09:13.343Z
Ali
<p>The principal-agent problem is to some extent an intuitive thing that even ancient kings must have thought about.</p>

<p>But what is the first journal paper that has introduced the term "principal" and "agent", and made the first formal economic analysis of the principal-agent problem as a general phenomenon?</p>

<reference-request><principal-agent>
First paper to introduce the "principal-agent problem"
user8301
# First paper to introduce the "principal-agent problem"

(Asked by: username_0 on 2019-04-21)

The principal-agent problem is to some extent an intuitive thing that even ancient kings must have thought about.

But what is the first journal paper that has introduced the term "principal" and "agent", and made the first formal economic analysis of the principal-agent problem as a general phenomenon?

**Tags:** reference-request, principal-agent


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## 1 answers

### Answer by username_1 on 2019-04-21. Score: 7 | Accepted answer

The term principal-agent problem is due to [Ross](http://www3.uah.es/econ/MicroDoct/Ross_1973_The%20economic%20theory%20of%20agency.pdf) (1973) (per Stiglitz, [1989](https://link.springer.com/chapter/10.1007/978-1-349-20215-7_25)). Other early contributions to this literature include Mirrlees ([1974](https://scholar.google.co.uk/scholar?hl=fr&as_sdt=0%2C5&q=Mirrlees%2C%20J.%201974.%20Notes%20on%20welfare%20economics%2C%20information%2C%20and%20uncertainty.%20In%20Contributions%20to%20Economic%20Analysis%2C%20ed.%20M.S.%20Balch%2C%20D.L.%20McFadden%20and%20S.Y.%20Wu%2C%20Amsterdam%3A%20North-Holland.&btnG=), [1976](http://www.course.sdu.edu.cn/G2S/eWebEditor/uploadfile/20120410084219_750513193492.pdf)) and Stiglitz [1974](https://www.isid.ac.in/~tridip/Teaching/DevelopmentMicroeconomics/Readings/04LandMarket/01Stiglitz-ReStud1974.pdf), [1975](http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.467.1328&rep=rep1&type=pdf)).


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