委托——代理理论认为,只要在建立或签订合同前后,市场参加者双方掌握的信息不对称,这种经济关系都被认为属于委托人——代理人关系。在委托——代理理论中,构成委托——代理关系的基本条件如下:一是市场中存在两个相互独立的个体,且双方都是约束条件下的效用最大化者。二是代理人和委托人都面临市场不确定性和风险,且他们二者之间掌握的信息处于非对称状态。 The principal-agent theory holds that, as long as the information held by both market participants is asymmetric before and after the contract is established or signed, such economic relations are all considered as principal-agent relations. In the principal-agent theory, the basic conditions for the formation of principal-agent relationship are as follows: First, there are two independent individuals in the market, and both of them are utility maximizers under the constraint condition. Second, both agents and clients face market uncertainty and risk, and the information they hold between them is in an asymmetric state.