The Division of Democratic Labor

In Our Name ◽  
2012 ◽  
Author(s):  
Eric Beerbohm
Keyword(s):  
Decision Making ◽  
Cost Saving ◽  
Moral Hazard ◽  
Distributive Justice ◽  
Thought Experiment ◽  
Agency Problem ◽  
Cognitive Strategies ◽  
Representative Democracy ◽  
Democratic Citizenship

This chapter proposes cost-saving cognitive strategies for citizens to exhibit their decision-making virtues economically. It shows how individual citizens can come to rely on credentialed experts to form and act upon empirical beliefs that bear upon their judgments of distributive justice. Before explaining how the horizontal division of democratic labor works, the chapter considers the structure of the agency problem of representative democracy as well as the intuition that complicity remains a moral hazard of democratic citizenship. It then presents a thought experiment that illustrates how demanding and disruptive our decision making would be in a plebiscitary democracy. It also discusses three principles that can help citizens reduce the decisional burdens of their office: the usability principle, the peer principle, and the triage principle. The chapter concludes by defending a companion principle whose aim is to give citizens guidance when they can offload their decision-making responsibilities.

AGENCY PROBLEM DALAM PENERAPAN PEMBIAYAAN AKAD MUDHARABAH PADA PERBANKAN SYARIAH

ALQALAM ◽  
2016 ◽  
Vol 33 (1) ◽  
pp. 46
Author(s):  
Aswadi Lubis
Keyword(s):  
High Risk ◽  
Asymmetric Information ◽  
Human Resources ◽  
Moral Hazard ◽  
Adverse Selection ◽  
Agency Problem ◽  
Agency Problems ◽  
Islamic Banking ◽  
The Public

The purpose of writing this article is to describe the agency problems that arise in the application of the financing with mudharabah on Islamic banking. In this article the author describes the use of the theory of financing, asymetri information, agency problems inside of financing. The conclusion of this article is that the financing is asymmetric information problems will arise, both adverse selection and moral hazard. The high risk of prospective managers (mudharib) for their moral hazard and lack of readiness of human resources in Islamic banking is among the factors that make the composition of the distribution of funds to the public more in the form of financing. The limitations that can be done to optimize this financing is among other things; owners of capital supervision (monitoring) and the customers themselves place restrictions on its actions (bonding).

Impact of relatedness, uncertainty and slack on corporate entrepreneurship decisions

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Robert Garrett ◽  
Shaunn Mattingly ◽  
Jeff Hornsby ◽  
Alireza Aghaey
Keyword(s):  
Decision Making ◽  
Hierarchical Linear Modeling ◽  
Cognitive Strategies ◽  
Corporate Entrepreneurship ◽  
New Venture ◽  
Organizational Level ◽  
Linear Modeling ◽  
Slack Resources ◽  
Content Type ◽  
Positive Effect

PurposeThe purpose of this study is to evaluate the effect of opportunity relatedness and uncertainty on the decision of a corporate entrepreneur to pursue a venturing opportunity.Design/methodology/approachThe study uses a conjoint experimental design to reveal the structure of respondents' decision policies. Data were gathered from 47 useable replies from corporate entrepreneurs and were analyzed with hierarchical linear modeling (HLM).FindingsResults show that product relatedness, market relatedness, perceived certainty about expected outcomes and slack resources all have a positive effect on the willingness of a corporate entrepreneur to pursue a new venture idea. Moreover, slack was found to diminish the positive effect of product relatedness on the likelihood to pursue a venturing opportunity.Practical implicationsBy providing a better understanding of decision-making schemas of corporate entrepreneurs, the findings of this study help improve the practice of entrepreneurship at the organizational level. In order to make more accurate opportunity assessments, corporate entrepreneurs need to be aware of their cognitive strategies and need to factor in the salient criteria affecting such assessments.Originality/valueThis paper adds to the limited understanding of corporate-level decision-making with regard to pursuing venturing opportunities. More specifically, the paper adds new insights regarding how relatedness and uncertainty affect new venture opportunity assessments in the presence (or lack thereof) of slack resources.

scholarly journals Age, Frailty, Resuscitation and Intensive Care: With Reference to COVID-19

Geriatrics ◽  
2021 ◽  
Vol 6 (2) ◽  
pp. 36
Author(s):  
David G Smithard ◽  
Nadir Abdelhameed ◽  
Thwe Han ◽  
Angelo Pieris
Keyword(s):  
Intensive Care Unit ◽  
Decision Making ◽  
Mechanical Ventilation ◽  
Intensive Care ◽  
Cardiopulmonary Resuscitation ◽  
Distributive Justice ◽  
Older Age ◽  
Distribution Of Resources ◽  
Utilitarian Approach ◽  
The Individual

Discussion regarding cardiopulmonary resuscitation and admission to an intensive care unit is frequently fraught in the context of older age. It is complicated by the fact that the presence of multiple comorbidities and frailty adversely impact on prognosis. Cardiopulmonary resuscitation and mechanical ventilation are not appropriate for all. Who decides and how? This paper discusses the issues, biases, and potential harms involved in decision-making. The basis of decision making requires fairness in the distribution of resources/healthcare (distributive justice), yet much of the printed guidance has taken a utilitarian approach (getting the most from the resource provided). The challenge is to provide a balance between justice for the individual and population justice.

Shareholder-driven Corporate Governance

2019 ◽  
Author(s):  
Anita Indira Anand
Keyword(s):  
Decision Making ◽  
Corporate Governance ◽  
Moral Hazard ◽  
Capital Markets ◽  
Regulated Markets ◽  
The People ◽  
Important Trend ◽  
Technical Capacity ◽  
Regulatory Challenges

This is a book about the ways in which capital markets have come to be shaped by the ubiquity of sophisticated investors. In particular, many of today’s investors have the economic might and technical capacity to play a role in the decision-making of the corporations in which they invest. This phenomenon brings with it a host of benefits, such as mechanisms to ameliorate the moral hazard that can exist when the people who bear the risk of corporate activity are different from those who make decisions. A key element of this book is an examination of the ways in which thinking about corporations and capital markets must change to reflect the prevalence of sophisticated shareholders. The book develops a concept—shareholder-driven corporate governance—to explain the role of powerful shareholders and to propose a regulatory scheme that furthers their participation in corporate decision-making. In doing so, the book considers a number of regulatory challenges that confront securities regulators. Ultimately, the book identifies an important trend in capital markets, highlights reasons for fostering this trend, and discusses the path that regulation can and should take in order to protect investors and foster well-regulated markets.

The Internet, Political Participation and Election Turnout: A Case Study of Germany's www.abgeordnetenwatch.de

2010 ◽  
Vol 28 (3) ◽  
pp. 156-175 ◽  
Author(s):  
Hartwig Pautz
Keyword(s):  
Decision Making ◽  
Political Participation ◽  
East Germany ◽  
Representative Democracy ◽  
The Internet ◽  
Parliamentary Democracy ◽  
Political Decision ◽  
Political Decision Making

Germany's parliamentary democracy appears to be in crisis. The major parties' membership is in decline and barely existing in East Germany, election turnout is decreasing at all levels, and the reputation of politicians has never been worse. At the same time, however, Germans are more interested in politics than in the 1990s, overwhelmingly support democracy, and are keen on participating particularly in local political decision making. Out of this situation emerged www.abgeordnetenwatch.de— a website that aims to re-establish the link between electors and elected by allowing voters and representatives to communicate via a publicly accessible question-andanswer structure. This article addresses the questions of whether such an instrument can revitalize representative democracy and whether it has done so in the context of the 2009 federal elections.

Democratic Perspectives on Interactive Political Leadership

2020 ◽  
pp. 41-58
Author(s):  
Eva Sørensen
Keyword(s):  
Decision Making ◽  
Political Participation ◽  
Political Leadership ◽  
Representative Democracy ◽  
Democratic Representation ◽  
The People ◽  
Input Legitimacy ◽  
The Way

Representative democracy is in transition in theory as well as in practice, and this transition affects the way we think about political leadership and democratic representation. New theories of democracy challenge traditional understandings of what it entails to represent the people, and a mushrooming of new forms of political participation destabilizes traditional views of the role of citizens in democratic decision-making. Chapter 4 shows how these theoretical and empirical developments, which are partially triggered by inherent tensions in democratic thought, promote a turn towards interactive forms of political leadership. Interactive political leadership can potentially alleviate the tensions in democratic thought and strengthen the input legitimacy of representative democracy in times of declining trust in politicians. A turn to interactive political leadership is no panacea. It triggers new dilemmas and challenges for elected politicians.

scholarly journals The British Academy Brian Barry Prize Essay: Representing the Future: The Interests of Future Persons in Representative Democracy

2020 ◽  
pp. 1-15 ◽  
Author(s):  
Andre Santos Campos
Keyword(s):  
Decision Making ◽  
Political Representation ◽  
Representative Democracy ◽  
Future Generations ◽  
The Political ◽  
Political Decision ◽  
Distant Future ◽  
Special Cases ◽  
Political Decision Making ◽  
Prize Essay

Abstract As a reaction against contemporary democracy's inherent short-sightedness in solving problems that are likely to affect distant future generations, there has been a recent increase in proposals for different kinds of democratic representation of future persons. This article shows that even though there can be no such thing as political representation of future persons, the relevant affected interests of the as-yet unborn can still be taken into consideration in political decision making. This aim is achieved by focusing on the political representation of children as special cases of semi-future members of the class of the represented.

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