Incontestably the greatest movie of its time, Ratatouille captivates with its mouth-watering meals, comical characters, and superb writing that appeals to all ages. However, upon closer examination this Pixar film can also be hailed as a perfect ode to Economics, specifically the Principal-Agent Problem (PAP).
The PAP can be summarized as a conflict of interests amongst a principal (employer/boss) and the agent (an employee, or party entrusted to carry out the wishes of the principal). The agent is essentially incentivized to behave in a way that conflicts with the principle, hence the PAP. In Ratatouille, Gusteau and Chef Skinner can be likened to the Principal and Agent respectively.
Gusteau asserts that his restaurant should be the home exceptional and innovative cuisine, focusing on the artistry and joy of cooking. However, Skinner is more concerned with protecting the restaurant's reputation and profits. When Gusteau dies, Skinner seizes the opportunity to use Gusteau's image and name to market and sell a line of frozen foods, prioritizing financial gain over Gusteau's culinary principles. This situation exemplifies the PAP as Skinner, the agent, deviates from Gusteau's original vision for the restaurant as an employee of the restaurant, pursuing personal interests (financial success) at the expense of the true essence of Gusteau's culinary philosophy.
Luckily for us, this PAP was resolved by the artistic, persistent actions of Remi the rat who studied economics in between cooking meals
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