An Economic Theory of Government Decision-making in a Democracy

abstain agents alternatives analysis assume assumption basic benefits ceteris paribus citizen X coalition competition conclusion cost of voting decision-making democracy democratic government Derived from Chapter desire discount discussion distribution of voters division of labor economists effect election period electorate equal example exist extremist fact favor free information gain goals government action government policy government's groups hence hypothesis ideologies incumbents indifferent individual influence irrational issue Kenneth Arrow marginal cost marginal return maximize means ment motives multi-party system normative oligopoly opposition party outcome Paretian optimum party differential party's political information political parties position possible preferences present proportional representation Proposition rational behavior rational citizen rational voter real world reason receives return from voting scale selection principles social society strategy structure two-party system uncertainty utility income V. O. Key views vote-selling voting decision welfare Welfare Economics well-informed zero