The rational voter paradox revisited

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The rational voter paradox rests on two fundamental assumptions. First, that voters are risk neutral. Second, that voters make decisive vote computations. The implications of maximizing the expected utility of wealth rather than the utility of expected wealth are explored. The validity of decisive vote computations are examined through concepts of weak and strict in the limit free rider assumptions. The paper proposes a margin of victory model of voting behavior based on information levels and the political division of labor.

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