Examlex
"Situational adjustment" was a concept developed by a sociologist named
Paradox Of Voting
A situation in democratic decision-making where rational individual choice can lead to an outcome that seems irrational or suboptimal for the group.
Principal-Agent Problem
A dilemma in economics where one party (the agent) is expected to act in the best interest of another party (the principal) but may have a conflict of interest.
Paired-Choice Votes
Paired-choice votes involve voters making choices between pairs of candidates or options rather than voting for a single option amongst many.
Marginal Benefit
The incremental gain in happiness or utility a consumer achieves from purchasing an additional unit of a good or service.
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