Examlex
is the number of times the target audience reached by a media vehicle is exposed to the vehicle over a specified period of time.
Paradox of Voting
The concept that for a rational, self-interested voter, the costs of voting will normally exceed the expected benefits, given the low probability that one vote will influence the outcome.
Majority Voting
A voting system in which decisions are made based on the majority of votes received, often used in elections and organizational decision-making processes.
Principal-Agent Problem
A scenario in which conflicts of interest arise because the goals of a principal (e.g., a shareholder) do not align with those of an agent (e.g., a company executive).
Moral Hazard Problem
The possibility that individuals or institutions will behave more recklessly after they obtain insurance or similar contracts that shift the financial burden of bad outcomes onto others. Example: A bank whose deposits are insured against losses may make riskier loans and investments.
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Q105: Define reliability. Define validity.