Assuming you aren't joking, why would you trust the members of the tribunal? I have yet to see any evidence that humans have found a way to overcome the principal-agent problem in governing bodies.
Elected == accountable...generally speaking. Of course there would be corruption and errors. I would trust it over a hegemonic oligopoly though. Have to google the principal-agent problem though. I'm not familiar with that term.
How so? It's clear that voters don't know how (in aggregate) to make rational choices.
Given the (for a single example) well-known strong-arm get-out-the-vote collusion between Chicago's elected city officials and Chicago's regional street gangs, I'm not sure that I would trust a hegemonic oligopoly any less.
The book that this is based on is pretty interesting:
