Chapter

Delegation and its Perils

Arthur Lupia

in Delegation and Accountability in Parliamentary Democracies

Published in print November 2003 | ISBN: 9780198297840
Published online January 2005 | e-ISBN: 9780191602016 | DOI: http://dx.doi.org/10.1093/019829784X.003.0002

Series: Comparative Politics

Delegation and its Perils

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Presents a formal theoretical framework that clarifies when principals can, and cannot, use delegation to accomplish desired ends. It shows the conditions (having to do with preferences and information) under which agents will act in their principals’ interests and how political institutions can alleviate the perils of delegation. Finally, it discusses the implications of its theoretical insights on chains of political delegation.

Keywords: adverse selection; agency loss; contract design; ex ante vs ex post controls; hidden action; information; interests; moral hazard; principal–agent theory; screening; selection

Chapter.  11051 words.  Illustrated.

Subjects: Comparative Politics

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