Poli Sci Notes 10-3-07 - Adam Caplan 10/3/07 International...

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Adam Caplan 10/3/07 International Politics Lecture 7: Principles, Agents, and the Collective Good o The Role of the Media Ideally the media could reduce information asymmetry Competition between news outlets would lead to better information New Research on the media Bias of individuals o Journalists are liberal, publishers are conservative Market for news o Incentives for differentiation Attacks by politicians Attempts to limit bias can reduce news quality o Principle-Agent Literature Principle: Person or group of people in charge who must delegate to an agent Agent: Individual or organization that works on the principle’s behalf. Example: Democracy Principle: Citizens Agent: Elected Officials o Why delegate? Specialization/Expertise Ex: Physician Information Ex: US News Rankings Time-Inconsistency Ex: Someone else looking ahead for you (Social Security) o Examples of delegation Voting Judges International Monetary Fund (IMF)
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This note was uploaded on 04/10/2008 for the course POLI SCI 103B taught by Professor Jensen during the Fall '07 term at Washington University in St. Louis.

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Poli Sci Notes 10-3-07 - Adam Caplan 10/3/07 International...

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