Every system fails. Some failures can be thought of as a tradeoff between consistency and flexibility, while others are unexpected features we discover once the system is widely used. Corporations hire armies of lawyers to think deeply about tax law, looking for loopholes. Political consultants examine election law for similar reasons...
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Principal-Agent Problems and the Structure of…
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Every system fails. Some failures can be thought of as a tradeoff between consistency and flexibility, while others are unexpected features we discover once the system is widely used. Corporations hire armies of lawyers to think deeply about tax law, looking for loopholes. Political consultants examine election law for similar reasons...