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What is the principal-agent paradigm
Controversies on the decisions of many state governors and other ministers can be cited as examples. Such behaviour reflects their willingness and want to retain the office likely are holding or for more 'incentive'. Under imperfect information, the principal-agent paradigm has been successful in explaining the nature of incentive involved. When there are many principals whose preferences are not fully known and when they do not converge to a single principal, choice of agents becomes notoriously difficult. But this is the essence of elections. There have been many modelling choices on the problem but one must be careful not to let the paradigm of the principal-agent conceal more than it reveals.
What are the features of the OMC process Participation is also seen as a central feature of the OMC process, especially if it is to be extended beyond 'top-down' to encompass '
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Define the Strategic Voting and Policy Process Now we take up an important issue with respect to policy process. In standard models, where a single vote is taken directly as re
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