Tag: Mechanism Design
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Game Rejection
Within game theory and philosophical contexts, Game Rejection signifies the act of declining participation in established strategic dynamics. It delves into the balance between individual agency and structural norms, revealing the intricacies of decision-making processes.
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Principal-Agent Problem
The Principal-Agent Problem occurs when a person (the principal) hires someone else (the agent) to act for them, but the agent may not always act in the principal’s best interest due to differing information or motives. Solutions involve creating better incentives and transparency.