Category Archives: Asymmetric Information

Public Choice Theory Vindicated! … umm, again

The Principle-Agent Problem strikes again. Who’da thunk it?? “Most of my colleagues are dishonest career politicians who revel in the power and special-interest money that’s lavished upon them.” “My main job is to keep my job, to get reelected. It … Continue reading

Posted in Asymmetric Information, Esau Problem, Moral Hazard, Principal-Agent Problems | Leave a comment

Kidding yourselves, and hoping to kid others too

This being the ‘silly season’ here in the Southern Hemisphere, the national broadcaster, with most of its talent taking long vacations, isĀ filling the airwaves with replays of old shows. One of which, a documentary about how the universities’ need for … Continue reading

Posted in Asymmetric Information, Moral Hazard, Principal-Agent Problems | Leave a comment