POLI 201 1st Edition Lecture 11. The Rationality Principle:- Political behavior has a purpose.- All people have goals and their political behavior is guided by these goals.o People act instrumentally.o Weigh costs and benefits of actions to make decisions.2. The Institutions Principle:- Institutions – rues and procedures that provide incentives for political behavior, thereby shaping politics. - Authority:o Jurisdictiono Agenda power and veto power.  Agenda power – power to bring something up for consideration. Veto power – After something is already on the agenda, the authority has the power to veto. o Decisiveness: 435 voting members (HOR) o Delegation: Not exercising authority directly Principal-agent relationship- Principals need tools to hold agents accountable3. The Collective Action Principle:- All politics is collective action- Action requires cooperation of many different actors with different motivations and preferences.- Bargaining is necessary.Collect Action Problems:- Sometimes we don’t act cooperatively, even when everyone would gain.- Example: Mending the Fenceo 2 Farmerso Shared fence lineo $1000 to repair (c)o Each farmer values it at $700 (v) - May occur when outcomes are a product of individual actions, but also other people’s actions.- Rational, self-interested individuals may produce collectively and individually undesirable outcomes without coordination.Public GoodsThese notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute.- Characteristicso Jointness of supplyo Non excludability- Free Riders- Solution:o Coerciono Penalties for not cooperating or selective rewards for