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define the term - credibility and reputationnature and characteristic of the environment in which a policy has been chosen has a number of important
baobab rolling mills owns a lathe machine which was purchased 10years ago at sh 75 million the machine had an expected life of 15 yrs at the time it
determine the example of a relational contracta characteristic macro example of a relational contract with a strong lock-in effect is membership of a
theories of relational contractsthese are long-term non-legal or only incompletely legal agreements the fact of incomplete foresight is taken into
theories of self-enforcing or implicit contractsthese theories relate to the problem of limits to which legal compulsion can be employed due to
determine about the principal-agent theorieswwhich concentrate especially on the problems of asymmetric information among the parties to a contract
what is the theory of contractsthe specialized relationship between principal and agent and between agents themselves in the policy process has been
describe the principal-agent framework in standard principal-agent framework an agent may be directed to maximize an objective function which may or
determine the complexities of the policy processcomplexity of the policy process affects the form of delegation of powers to the agents by the
illustrate the principle of authority or powerauthorities are delegated by the principal to agents and it is the characteristic of all the
what forces the policy maker to obey the lawwhen law directs a policy maker to carryout policy what forces the policy maker to obey the law when
determine in detail about the credibility factorlet us consider credibility factor the law institutions and other created authorities lead to
state about the underlying process - law institutions the underlying process forms the basis of our next subtitle the first point is that if an
law institutions and delegation of authorityhow time-consistency plays a significant role in policy process the problems induced by the heterogeneity
how to explain the apparent lack of expressions there are several ways to explain the apparent lack of expressions of the impacts in fact there are
the impact of behaviour on the policy agendato see the impact of behaviour on the policy agenda and outcomes which is generally not apparent one way
determine about the opportunistic policy cyclewe now turn back once again to study the behaviour of the decision maker who ultimately wants to return
what is legislative lobbyinglobbying if comes after elections may take place either by contribution to be used in future or by inducting some
define the reflect relative policy stancewe assume that contributions reflect relative policy stance then the policy positions are perceived only
special interest groups and policy decisionspecial interest groups either of voters or the prospective contesters play an important role in policy
define the term - agenda amendments the solution to the above lies in the rules of policy or agenda amendments and the real weapon in the hands of
determine the deciding factor with respect to legislatureparty with most votes has been in control of the legislature so the deciding factor with
game theoretic approach to multiparty coalitionthe seminal work for the study of game theoretic approach to multiparty coalition formation is rickers
what is the composition of the legislaturegiven the composition of the legislature the strategic voting the possibility under which the policies and
multiparty system and coalitionwe have already made conceptual excursion gaining impressions of the existence of multiple parties now in this section