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Bribery

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