Agency Relationships in Marketing: A Review and Future

The academic article provides an extensive overview of Agency Theory and its implications and applications within the field of marketing. The authors establish that agency relationships are pervasive in marketing, despite the theory only recently gaining traction in marketing research, and they clarify the theory's major constructs, including the hidden actionand hidden information models. A significant portion of the text is dedicated to reviewing past and potential agency-based research across various marketing issues, such as salesforce compensation, channel coordination and control, and consumer promotion/signaling. The paper concludes by discussing the limitations of Agency Theory and suggesting ways marketing researchers can contribute to improving its validity and usefulness through better measurement and integration with other theories.