Minimizing Missed Opportunities: Modeling Relationships between the State and Business in Russia

A. Oleynik

Voprosy Ekonomiki, 2009, issue 7

Abstract: Power involves a number of models of choice: maximizing, satisficing, coercion, and minimizing missed opportunities. The latter is explored in detail and linked to a particular type of power, domination by virtue of a constellation of interests. It is shown that domination by virtue of a constellation of interests calls for justification through references to a common good, i.e. a rent to be shared between Principal and Agent. Two sources of sub-optimal outcomes are compared: individual decision-making and interactions. Interactions organized in the form of power relationships lead to sub-optimal outcomes for at least one side, Agent. Some empirical evidence from Russia is provided for illustrative purposes.

Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:nos:voprec:y:2009:id:895

DOI: 10.32609/0042-8736-2009-7-42-61

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