Examlex
Explain the concept of adverse selection. Give an example.
Shortsightedness Effect
The shortsightedness effect refers to the tendency of decision-makers to prioritize short-term gains over long-term outcomes, often leading to suboptimal results.
Immediate Benefits
Advantages or gains that can be realized in the near term without significant delay.
Distant Future
A period of time that is significantly far ahead from the present moment.
Logrolling
In politics, the practice of exchanging favors, especially in legislative bodies, by reciprocal voting for each other's proposed legislation.
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