As the central system of venture capital's two principal-agents, venture capitalists are the soul of the venture capital, they play the most import role in the venture capital activity.
The principal has to pay additional fairness rents ( FR) to compensate the disutility of agents with fairness preferences, which results from unfair allocation of material payoff.
具有公平偏好的代理人面临不公平的物质收益分配会产生公平负效用，这要求委托人支付额外的公平租金。
3
It is primarily studied for a principal how to motivate agents to maximize its interests under the condition that the principal doesn't ensure the type of agents he faces.