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Explain what a boundary control system is

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Question 1: "Information asymmetry and the tendency of the rational individuals to pursue self-interest birth a need for complex contracts and compensation packages." Do you agree? Explain.

Question 2: Explain what a boundary Control System is and provide real world examples.

Question 3: Consider diners, restaurant owners, and servers. Identify two principal-agent relationships that exist among these parties. For each relationship, clearly present the agent and the principal and state the possible contract agreement (contract can be explicit or implicit).

Reference no: EM132459455

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