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A Theory of Trustees, and Other Thoughts

Author

Listed:
  • Rasmusen, E.

Abstract

Independent central bankers and judges can both be more usefully viewed as examples of trustees than as agents. A trust is alegal insitution with rules set up by a settlor, administered by a trustee on behlaf of beneficiaries. Public trustees often are motivated more by Pride, Policy, Place and Power than by money, and economists should take this into account.

Suggested Citation

  • Rasmusen, E., 1998. "A Theory of Trustees, and Other Thoughts," Papers 98-007, Indiana - Center for Econometric Model Research.
  • Handle: RePEc:fth:indian:98-007
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    Cited by:

    1. Barsky, Adam J. & Islam, Gazi & Zyphur, Michael J. & Johnson, Emily, 2006. "Investigating the Effects of Moral Disengagement and Participation on Unethical Work Behavior," Insper Working Papers wpe_62, Insper Working Paper, Insper Instituto de Ensino e Pesquisa.

    More about this item

    Keywords

    CENTRAL BANKS ; TRUSTS;

    JEL classification:

    • D73 - Microeconomics - - Analysis of Collective Decision-Making - - - Bureaucracy; Administrative Processes in Public Organizations; Corruption
    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies

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