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The Logic of Collective Belief
Oleh:
Caplan, Bryan
Jenis:
Article from Journal - ilmiah internasional
Dalam koleksi:
Rationality and Society vol. 15 no. 2 (Mei 2003)
,
page 218-242.
Topik:
collective choice
;
irrationality
;
political failure The trouble with people is not that they don't know but that they know so much that ain't so. Josh Billings
;
in Caruth and Ehrlich (1988: 205)
Fulltext:
218RS152.pdf
(592.58KB)
Isi artikel
Many political failure arguments implicitly assume that voters are irrational. This article argues that this assumption is both theoretically and empirically plausible: in politics, rationality, like information, is a collective good that individuals have little incentive to supply. In consequence, voters are frequently not only rationally ignorant but also `rationally irrational'. Rational irrationality leads to both demand-side and supply-side political failures: competition not only pressures politicians to act on voters' biased estimates, but selects for politicians who genuinely share those biases. The analytical framework also sheds new light on log-rolling, political shirking and advertising, and politicians' human capital.
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