Bureaucrats, Interface administrators, Administrators (Semantic MediaWiki), Curators (Semantic MediaWiki), Editors (Semantic MediaWiki), Administrators, Widget editors
23,007
edits
Principal-agent problem: Difference between revisions
From Cibernética Americana
Jump to navigationJump to search
no edit summary
(Created page with 'In political science and economics, the '''principal–agent problem''' or '''agency dilemma''' treats the difficulties that arise under conditions of incomplete and [[in...') |
No edit summary |
||
| Line 7: | Line 7: | ||
As another example, the implementation of legislation (such as laws and executive directives) is open to bureaucratic interpretation, which creates opportunities and incentives for the bureaucrat-as-agent to deviate from the intentions or preferences of the legislators. Variance in the intensity of legislative oversight also serves to increase principal–agent problems in implementing legislative preferences. | As another example, the implementation of legislation (such as laws and executive directives) is open to bureaucratic interpretation, which creates opportunities and incentives for the bureaucrat-as-agent to deviate from the intentions or preferences of the legislators. Variance in the intensity of legislative oversight also serves to increase principal–agent problems in implementing legislative preferences. | ||
[[Image:Principal agent.png|thumb|320px| | [[Image:Principal agent.png|thumb|320px|right|Basic idea of Agency Theory (P: Principal, A: Agent)]] | ||
==Overview== | ==Overview== | ||
