대리인 이론의 적용을 통한 반부패정책연구

A study on the anti-corruption policies through principal-agent model

The principal-agent model support to understand the contractual relationship in public society. The contractual relationship can be violated easily for the information asymmetry between principal and agent. The problems of contractual relationship are moral hazard and reverse selection. Moral hazards of public officials result in corruption and bribery. This paper is to apply the agency theory to analyze sources of corruption and the anti-corruption policies. The moral hazard of public officials can be controlled by citizen participation and governance system. Decentralization and delegation of power can reduce the possibility of moral hazard. The cost of monitoring to reduce moral hazard and reverse selection is likely to be substantially lower through these policies and provoke to make transparent and credible society.