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An Agreement Problem Occurs In Which Type Of Situation

Additional agency fees may be incurred to deal with issues resulting from an agent`s actions. Agency fees are considered part of the transaction costs. Technically, it is impossible to solve the problem of distributed asynchronous consensus in a limited amount of time. As the impossible result of the Dijkstra Prize-winning FLP (Fis85) proves, no asynchronous consensus algorithm can guarantee progress in the presence of an unreliable network. This type of design is suitable when the work of the service manager can be performed or is shared by a process. System designers can create a highly available service by writing it as if it were a simple program, replicating this process, and using the leader choice to ensure that a single leader is working at all times (see Figure 23-3). Often, the manager`s job is to coordinate a pool of workers in the system. This model was used in the GFS [Ghe03] (replaced by Colossus) and in the Bigtable key value memory [Cha06]. In a moral-hazard situation, a party who has broken the agreement provides misleading information or changes its behavior after the agreement has been reached because it believes that it will have no consequences on its actions.

Where a natural or legal person does not bear the full costs of a risk, he or she may be encouraged to increase his or her exposure to risk. This decision is based on what brings them the greatest benefit. It`s important. When assessing the importance of the problem, consider feasibility. .