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This is not a conventional use of the principal-agent problem. The landlord is not your agent in the sense that an employee is an agent for an employer. You ar
by cjy 16y ago
This is not a conventional use of the principal-agent problem. The landlord is not your agent in the sense that an employee is an agent for an employer. You are arguing that landlords have market power because switching costs are high. That may be true, but it is a completely different argument than what is implied by the principal-agent problem.