This paper presents a model to account for the behaviour of social elites, in terms of their decisions to distribute resources between themselves, and a mass of disadvantaged members of society. Privileged members of society have the opportunity to allocate resources either to improve their own...

How can office-seeking politicians or managers be aligned with social welfare or firm welfare, given that such agents have a suboptimal incentive to cater to majority preferences in situations with low participation costs and to elite preferences in situations with high participation costs? In...