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What is the difference between deductive and inductive reasoning? Why are both forms of reasoning important in determining correlations and/or causal relationships in comparative politics?
Principal-Agent Problem
A dilemma in economics where one party (the agent) is able to make decisions that impact another party (the principal), potentially leading to conflicts of interest.
Ownership
The act, state, or right of possessing something.
Control
The exercise of authoritative or regulatory influence over something or someone to guide or manage operations and behaviors.
Moral Hazard
A situation in which one party is more likely to take risks because they do not bear the full consequences of their actions, often due to asymmetrical information or misaligned incentives.
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