Category
Microeconomics & Competition
Description
Often ignored in mainstream economics, the concept of bribery is central to human systems: Given the chance, it is often easier to pay a certain agent to look the other way than to follow the rules. The enforcer of the rules is then neutralized. This principle/agent problem can be seen as a form of arbitrage.
Person
Resource Datasbase
Source
Shane Parrish's Farnam Street Mental Model Guide