Misconceptions and Political Outcomes  

Oleh:

Romer, David

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: The Economic Journal (EBSCO) vol. 113 no. 484 (2003), page 1-20.
Topik: POLITICAL; misconceptions; political outcomes
Fulltext: 1.pdf (139.57KB)

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Perpustakaan Pusat (Semanggi) Nomor Panggil: EE28.9 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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A large literature shows that strategic interactions among actors with conflicting objectives cna cause the political process to produce outcomes that lower welfare. This paper investigates an alternative explanation of such outcomes : if individuals' errors in assessing the likely effects of proposed policies are correlated, democratic decision making can produce welfare - reducing outcomes even in the absence of conflicting objectives. Under plausible assumptions, choosing candidates from among the best informed individuals does not remedy the problems created by such errors, but subsiding information and exposing representatives to information after their election do. Concentration of power has ambiguous effects.

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