Multitasking, Limited Liability and Political Agency

  • John William Hateld
  • Published 2006

Abstract

This paper considers a political accountability framework in which the politician exerts unobserved e¤ort in two independent dimensions. Since the worst payo¤ to the politician is removal from o¢ ce, this contracting environment exhibits limited liability. We show that limited liability implies that it is di¢ cult to implement vectors that devote attention… (More)

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