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Triangle in a restaurant

In the workplace there can be a standard principal-agent relationship or a more realistic triangle relationship. In this triangle, the agent deals with two different principals. This occurs mostly in situations where the agent has multiple interests. For example as a salesman, one goal is to sell as much as possible and the other goal is to satisfy the buyer. My experience with the triangle principal-agent model comes from my job as a waiter in a restaurant. During the last year of my high school and before my gap year, I worked in a restaurant in Utrecht. In general, the main goal of my boss was to make as much revenue as possible. During my first working days I was taught how to be a good waiter and what they expected of me. I experienced that I had multiple interest as a waiter. The main goal was to satisfy the guests as good as possible. Nowadays review scores and social media are very important in order to attract new costumers, thus good service is important. The costume...
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Illinibucks options

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John Hicks; The John Keynes in Macro Economics?

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John Hicks; The John Keynes in Macro Economics? John Hicks John Richard Hicks, one of the most influential economists ever, was born in 1904 in Warwick. After high school he enrolled at the University of Oxford. To finance his studies he received mathematical scholarships. He started as a math student in Oxford, but went to London School of Economics to work as a labor economist. As a labor economist, around 1930, Hicks published his early work in the field of labor economics. And this was just the beginning... In my opinion, John Hicks his two most famous publications are his IS-LM model and his book Value and Capital. Before discussing his IS-LM model, I would like to briefly point out his book Value of Capital, which was published in 1939. It was a major contribution to micro-economics and it was based on the theory of ordinal utility and distinguishes between the substitution effect and the income effect for an individual. Besides, Value and Capital has much mo...
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