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A preoccupation by regulatory bodies with controls rather than control, which allows organizations to costlessly mimic propriety in corporate governance (vague definitions of outside or unrelated directors that allow de facto insiders to be considered as independent).
He pointed out that if a commodity could be stored costlessly over time, then the rate of interest in units of that commodity could never fall below zero.
Start by assuming that we can costlessly obtain full information about the determinants of the institutional-choice question.
Without loss of generality, taxation revenue is assumed to be costlessly collected and government failures to be non-existent so that the entire tax revenue can be spent on the environment.
Sovereigns could not costlessly appropriate all benefits from being a part of the community but would instead have to limit their appropriations based on offers made by other sovereigns.
If the actions of the agent are perfectly and costlessly observable, the principal can merely reward the agent for the "correct" action and punish the agent for the "incorrect" action.
The portfolio volatility argument also differs from formal theories of portfolio distribution in cabinets, which assume that cabinet ministers can costlessly implement their most preferred policies (Austen-Smith and Banks 1990; Laver and Shepsle 1990, 1996).
We assume that the individual cannot easily or costlessly smooth taxable dividend income on personal account.
As a result, large investors cannot exit costlessly when they are dissatisfied with a particular management's performance.
Of course, if consumers can change firms costlessly, such an advantage would have few interesting implications.
If physical equipment and human skills could painlessly and costlessly be converted from technique to technique, innovation might have only beneficiaries.