| Popis: |
This chapter presents the economic theory of voting. It begins with the positive theory, considering why people vote and when abstention is rational. Next, it presents the median voter theorem, which predicts the outcomes of some elections. Turning to normative theory, the chapter relates the median voter theorem to efficiency and social welfare. The interpretive analysis introduces the “median theory of interpretation.” This theory provides a way to interpret laws enacted by casting separate votes on separate issues, as when voting on ballot initiatives. The chapter addresses topics such as direct democracy, the organization of the executive branch, and voting by judges. |
