Understanding the Soft Budget Constraint¶
Kornai, J., Maskin, E., & Roland, G. (2003). Understanding the Soft Budget Constraint. Journal of Economic Literature, 41(4), 1095-1136.
Cited by¶
1 citation across 1 artifact.
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Mechanisms¶
- Performance-Linked Drawdown Protocol
- The concept it defends against is the soft budget constraint: when an organization can count on easy money to cover shortfalls, its cost discipline decays because failure no longer bites.
This sourceA soft budget constraint arises when an organization expects external support to cover persistent deficits, weakening the discipline of failure.
- The concept it defends against is the soft budget constraint: when an organization can count on easy money to cover shortfalls, its cost discipline decays because failure no longer bites.
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Registry ID ref:03b1133bd30f · see in the full table