What are the normative models of Advisers? Briefly explain each of them.

Normative Models of Advisers

Three types:

     Hired Guns

     Value Neutral Analysts

     Value Guided Analysts

Hired Guns

     This is the most undesirable role that can be played by the adviser.

     Here the obligation to clients only is paramount and other values are not bothered about.

     Studies are made just conforming to the client’s wish.

     Adviser highlights only the favourable facts to the customer.

     All the unfavourable facts are very much downplayed.

Value Neutral Analysts

     Completely impartial engineers.

     They identify all options and analyze factual issues of each option.

     Cost-benefit analysis are made based on value criteria specified and made public

Value Guided Analysts

     Responsibility to public paramount

     Maintain honesty about technical facts and values

     They can adopt partisan views for the good based on their professional judgment