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Logrolling
Logrolling is the trading of favors, or '' quid pro quo'', such as vote trading by legislative members to obtain passage of actions of interest to each legislative member. In organizational analysis, it refers to a practice in which different organizations promote each other's agendas, each in the expectation that the other will reciprocate. In an academic context, the '' Nuttall Encyclopedia'' describes logrolling as "mutual praise by authors of each other's work". Where intricate tactics or strategy are involved, the process may be called horse trading. Concept and origin There are three types of logrolling: * Logrolling in direct democracies: a few individuals vote openly, and votes are easy to trade, rearrange, and observe. Direct democracy is pervasive in representative assemblies and small-government units * Implicit logrolling: large bodies of voters decide complex issues and trade votes without a formal vote trade (Buchanan and Tullock 1962) * Distributive logrol ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Quid Pro Quo
''Quid pro quo'' (Latin: "something for something") is a Latin phrase used in English to mean an exchange of goods or services, in which one transfer is contingent upon the other; "a favor for a favor". Phrases with similar meanings include: "give and take", " tit for tat", "you scratch my back, and I'll scratch yours", "this for that," and "one hand washes the other". Other languages use other phrases for the same purpose. Origins The Latin phrase ''quid pro quo'' originally implied that something had been substituted, meaning "something for something" as in ''I gave you sugar for salt''. Early usage by English speakers followed the original Latin meaning, with occurrences in the 1530s where the term referred to substituting one medicine for another, whether unintentionally or fraudulently. By the end of the same century, ''quid pro quo'' evolved into a more current use to describe equivalent exchanges. In 1654, the expression ''quid pro quo'' was used to generally refer t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Vote Trading
Vote trading is the practice of voting in the manner another person wishes on a bill, position on a more general issue, or favored candidate in exchange for the other person's vote in the manner one wishes on another position, proposal, or candidate. Nearly all voting systems do not make vote trading a formal process, so vote trading is very often informal and thus not binding. One form of vote trading that is formal is one that involves the trading of proxy voting rights – party A gets Party B's voting right formally, e.g. as a filled in proxy form with signature, perhaps authenticated by secretariats, and in this case party A may use B's vote on issue 1, and B uses A's vote on issue 2. Vote trading can be a type of logrolling. For discussion of vote trading between individual voters, rather than legislators, see vote swapping. In legislatures Vote trading frequently occurs between and among members of legislative bodies. For example, Representative A might vote for a d ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Quid Pro Quo
''Quid pro quo'' (Latin: "something for something") is a Latin phrase used in English to mean an exchange of goods or services, in which one transfer is contingent upon the other; "a favor for a favor". Phrases with similar meanings include: "give and take", " tit for tat", "you scratch my back, and I'll scratch yours", "this for that," and "one hand washes the other". Other languages use other phrases for the same purpose. Origins The Latin phrase ''quid pro quo'' originally implied that something had been substituted, meaning "something for something" as in ''I gave you sugar for salt''. Early usage by English speakers followed the original Latin meaning, with occurrences in the 1530s where the term referred to substituting one medicine for another, whether unintentionally or fraudulently. By the end of the same century, ''quid pro quo'' evolved into a more current use to describe equivalent exchanges. In 1654, the expression ''quid pro quo'' was used to generally refer t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Patient Protection And Affordable Care Act
A patient is any recipient of health care services that are performed by healthcare professionals. The patient is most often ill or injured and in need of treatment by a physician, nurse, optometrist, dentist, veterinarian, or other health care provider. Etymology The word patient originally meant 'one who suffers'. This English noun comes from the Latin word , the present participle of the deponent verb, , meaning , and akin to the Greek verb ( ) and its cognate noun (). This language has been construed as meaning that the role of patients is to passively accept and tolerate the suffering and treatments prescribed by the healthcare providers, without engaging in shared decision-making about their care. Outpatients and inpatients An outpatient (or out-patient) is a patient who attends an outpatient clinic with no plan to stay beyond the duration of the visit. Even if the patient will not be formally admitted with a note as an outpatient, their attendance is stil ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Agricultural Subsidy
An agricultural subsidy (also called an agricultural incentive) is a government incentive paid to agribusinesses, agricultural organizations and farms to supplement their income, manage the supply of agricultural products, and influence the cost and supply of such commodities. Examples of such commodities include: wheat, feed grains (grain used as fodder, such as maize or corn, sorghum, barley and oats), cotton, milk, rice, peanuts, sugar, tobacco, oilseeds such as soybeans and meat products such as beef, pork, and lamb and mutton. A 2021 study by the UN Food and Agriculture Organization found $540 billion was given to farmers every year between 2013 and 2018 in global subsidies. The study found these subsidies are harmful in a number of ways. In under-developed countries, they encourage consumption of low-nutrition staples, such as rice. Subsidies also encourage deforestation; and they also drive inequality because smallholder farmers (many of whom are women) are excluded ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
West Virginia
West Virginia is a mountainous U.S. state, state in the Southern United States, Southern and Mid-Atlantic (United States), Mid-Atlantic regions of the United States.The United States Census Bureau, Census Bureau and the Association of American Geographers classify West Virginia as part of the Southern United States while the Bureau of Labor Statistics classifies the state as a part of the Mid-Atlantic (United States), Mid-Atlantic regionMid-Atlantic Home : Mid-Atlantic Information Office: U.S. Bureau of Labor Statistics" www.bls.gov. Archived. It is bordered by Pennsylvania and Maryland to the northeast, Virginia to the southeast, Kentucky to the southwest, and Ohio to the northwest. West Virginia is the List of U.S. states and territories by area, 10th-smallest state by area and ranks as the List of U.S. states and territories by population, 12th-least populous state, with a population of 1,769,979 residents. The capital and List of municipalities in West Virginia, most populou ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Transaction Cost
In economics, a transaction cost is a cost incurred when making an economic trade when participating in a market. The idea that transactions form the basis of economic thinking was introduced by the institutional economist John R. Commons in 1931. Oliver E. Williamson's ''Transaction Cost Economics'' article, published in 2008, popularized the concept of transaction costs. Douglass C. North argues that institutions, understood as the set of rules in a society, are key in the determination of transaction costs. In this sense, institutions that facilitate low transaction costs can boost economic growth.North, Douglass C. 1992. "Transaction costs, institutions, and economic performance", San Francisco, CA: ICS Press. Alongside production costs, transaction costs are one of the most significant factors in business operation and management. Definition Williamson defines transaction costs as a cost innate in running an economic system of companies, comprising the total costs of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ronald H
Ronald is a masculine given name derived from the Old Norse '' Rögnvaldr'', Hanks; Hardcastle; Hodges (2006) p. 234; Hanks; Hodges (2003) § Ronald. or possibly from Old English '' Regenweald''. In some cases ''Ronald'' is an Anglicised form of the Gaelic '' Raghnall'', a name likewise derived from ''Rögnvaldr''. The latter name is composed of the Old Norse elements ''regin'' ("advice", "decision") and ''valdr'' ("ruler"). ''Ronald'' was originally used in England and Scotland, where Scandinavian influences were once substantial, although now the name is common throughout the English-speaking world. A short form of ''Ronald'' is ''Ron''. Pet forms of ''Ronald'' include ''Roni'' and '' Ronnie''. ''Ronalda'' and ''Rhonda'' are feminine forms of ''Ronald''. '' Rhona'', a modern name apparently only dating back to the late nineteenth century, may have originated as a feminine form of ''Ronald''. Hanks; Hardcastle; Hodges (2006) pp. 230, 408; Hanks; Hodges (2003) § Rhona. The nam ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Coase Theorem
In law and economics, the Coase theorem () describes the Efficiency (economics), economic efficiency of an economic Economic system, allocation or outcome in the presence of externality, externalities. The theorem is significant because, if true, the conclusion is that it is possible for private individuals to make choices that can solve the problem of market externalities. The theorem states that if the provision of a good or service results in an externality and trade in that good or service is possible, then bargaining will lead to a Pareto efficiency, Pareto efficient outcome regardless of the initial allocation of property. A key condition for this outcome is that there are sufficiently low transaction costs in the bargaining and exchange process. This 'theorem' is commonly attributed to Nobel Memorial Prize in Economic Sciences, Nobel Prize laureate Ronald Coase (quotations noting that Coase's theorem is not a theorem in the strict mathematical sense). In practice, numerous c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Opportunity Cost
In microeconomic theory, the opportunity cost of a choice is the value of the best alternative forgone where, given limited resources, a choice needs to be made between several mutually exclusive alternatives. Assuming the best choice is made, it is the "cost" incurred by not enjoying the ''benefit'' that would have been had if the second best available choice had been taken instead. The '' New Oxford American Dictionary'' defines it as "the loss of potential gain from other alternatives when one alternative is chosen". As a representation of the relationship between scarcity and choice, the objective of opportunity cost is to ensure efficient use of scarce resources. It incorporates all associated costs of a decision, both explicit and implicit. Thus, opportunity costs are not restricted to monetary or financial costs: the real cost of output forgone, lost time, pleasure, or any other benefit that provides utility should also be considered an opportunity cost. Types Expl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
General Possibility Theorem
Arrow's impossibility theorem is a key result in social choice theory showing that no ranked-choice procedure for group decision-making can satisfy the requirements of rational choice. Specifically, Arrow showed no such rule can satisfy the independence of irrelevant alternatives axiom. This is the principle that a choice between two alternatives and should not depend on the quality of some third, unrelated option, . The result is often cited in discussions of voting rules, where it shows no ranked voting rule to eliminate the spoiler effect. This result was first shown by the Marquis de Condorcet, whose voting paradox showed the impossibility of logically-consistent majority rule; Arrow's theorem generalizes Condorcet's findings to include non-majoritarian rules like collective leadership or consensus decision-making. While the impossibility theorem shows all ranked voting rules must have spoilers, the frequency of spoilers differs dramatically by rule. Plurality-rule met ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
