In the field of economic management, agency problem is a common topic. Agency problem refers to when a person or an organization (agent) is entrusted to make decisions or perform tasks on behalf of another person or organization (principal), the agent may have his own interests that conflict with the interests of the principal. . This conflict may cause the agent to take actions that are inconsistent with the interests of the principal, thereby causing the principal to suffer losses.

In agency problems, two types of agents can generally be distinguished: general agents and special agents. Their difference is mainly reflected in the agent's concern for the principal's interests and behavioral constraints.

General agency means that the agent is authorized to make a series of decisions and actions on behalf of the principal. The agent has a certain degree of autonomy, but at the same time he must abide by certain constraints and norms. A general characteristic of agency is that the agent pays certain attention to the interests of the principal, but also considers his own interests. In a general agency relationship, the principal usually establishes some guidelines and restrictions to ensure that the agent does not deviate from the interests of the principal in the performance of his duties. For example, the board members of a company make decisions on behalf of shareholders. When making decisions, they must consider not only the interests of the company, but also their own status and income in the company.

Special agency means that the agent has very high concern and loyalty to the interests of the client, and the agent's behavior is subject to strict supervision and constraints. The characteristic of special agency is that the agent completely puts the interests of the client first and does not consider his own interests. Special agents usually appear in some special circumstances, such as government officials making decisions on behalf of citizens' interests, and legal lawyers representing the interests of litigants in litigation. In these situations, agents are required to abide by certain legal, ethical and professional standards to ensure that they do not exploit their agency for personal gain.

In order to solve the agency problem, managers can take a series of measures to ensure that the agent's behavior is in the interests of the principal. First, the principal should select a suitable agent, evaluate the agent's loyalty and ability, and ensure that they have the ability to represent the principal's interests. Second, agents can be motivated to comply with the interests of their principals by establishing clear constraints and reward and punishment mechanisms. In addition, the principal can also strengthen the supervision and audit of the agent to ensure that the agent's behavior complies with regulations.

In short, the difference between general agency and special agency mainly lies in the agent's concern for the principal's interests and behavioral constraints. Managers can solve agency problems by selecting appropriate agents, establishing clear constraints and reward and punishment mechanisms, and strengthening supervision and auditing.