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In sporting activities, what amount of friction is desired?
Paradox Of Voting
The situation in which the cost of voting (in terms of time, effort) does not seem to be justified by the influence of one vote, yet people still vote.
Appropriations Bill
Legislation passed by a legislative body that provides funding for specific government agencies, departments, or purposes.
Regulatory Capture Effect
A situation where regulatory agencies are dominated by the industries or interests they are charged with regulating, leading to favorable policies for the regulated entities.
Principal-Agent Problem
A situation in which there is a conflict of interest between a principal (such as an owner) and an agent (such as a manager), because the agent may not act in the best interest of the principal.
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