Examlex
Noting that chiefdoms created the megalithic cultures of Europe,such as the one that built Stonehenge,Kottak reminds us that
Hidden Action
A situation in which an agent's actions are not fully observable by the principal, potentially leading to moral hazard.
Moral Hazard
A situation where one party engages in risky behavior knowing that it is protected against the consequences, often due to an asymmetry of information or a misalignment of incentives.
Imperfectly Monitored
A situation where there is insufficient oversight or observation, often leading to non-compliance or deviation from expected standards.
Tenure
The status of having a permanent position or employment, often used in the context of academic positions.
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