Examlex
When the principal-agent relationship is not contractual, the agent has no right to specific performance.
Concentrated Benefits
Advantages that are significantly focused on a small group rather than being distributed widely across many individuals.
Diffuse Costs
Costs that are spread out over many consumers or taxpayers, making them hard to identify and attribute to any single action.
Median-Voter Model
A theory suggesting that the outcome of majority voting processes will reflect the preferences of the median voter.
Cost-Benefit Analysis
A systematic approach to estimate the strengths and weaknesses of alternatives, assessing the value of costs and benefits to support decision-making.
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