Not this exact scenario, but I think almost everything has an element of this. Maybe a less charged example: Every time I hear about a green investment fund I

Not this exact scenario, but I think almost everything has an element of this. Maybe a less charged example: Every time I hear about a green investment fund I wonder what the incentive structure is. Clearly if it was 100% green 0% returns, the manager would just donate your money to charity, cash his bonus check, and buy a yacht. Really it needs to have imperceptibly lower returns than the non-green competition, because the customers will notice whole percentage points, and will look elsewhere. Another: What's the incentive structure for everyone making decisions in how to dig a subway in NYC? Since they end up spending, I forget, say it's 4x as much as Paris, at least 75% of the spending seems to be decided by priorities other than actually having a train. But the voters are unable to stop this. Which of these is closer to the school board?