Part B) Understanding the Principal-Agent model in information economics is also an entree into understanding a topic we have not formally covered - Externalities and the Economics of Public Goods. Nobel Laureate Milton Friedman, perhaps apocryphally, observed of bargemen (groups of men pulling a barge through a canal by all tugging on barge ropes) in China that they were being whipped to pull the barge. That sounds cruel, but these men were actually free. And what was perhaps the biggest surprise of all - is that when the barge stopped at a port, the bargemen actually went over and made cash payments TO the man who was whipping them. Explain what must have been the reason for this seemingly irrational behavior. Remember, pulling barges is tough work and requires a team effort