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This is a clear dichotomy, as one can be self-interested in one area but altruistic in another. By contrast, public choice theory models government as made up of officials who, besides pursuing the public interest, may act to benefit themselves, for example in the budget-maximizing model of bureaucracy, possibly at the cost of efficiency. [1] [13]
James McGill Buchanan Jr. (/ b juː ˈ k æ n ə n / bew-KAN-ən; October 3, 1919 – January 9, 2013) was an American economist known for his work on public choice theory [1] originally outlined in his most famous work, The Calculus of Consent, co-authored with Gordon Tullock in 1962.
The altruism theory of voting assumes that voters are rational but not fully egoistic. In this view voters have some degree of altruism to voters of the same party. [ 9 ] The altruistic utility increases with the large number of voters of the same party, which can explain the rationality of voting despite only a small chance of individually ...
Public choice eschewed the traditional notion that these agents are motivated by selfless interest in the public good, and instead considered them as typically self-interested, like other agents. His chief contribution to public choice theory was the budget-maximizing model – the notion that bureaucrats will attempt to maximize their agency's ...
The budget-maximizing model is a stream of public choice theory and rational choice analysis in public administration inaugurated by William Niskanen.Niskanen first presented the idea in 1968, [1] and later developed it into a book published in 1971. [2]
Pages in category "Public choice theory" The following 60 pages are in this category, out of 60 total. ... Budget-maximizing model; Bundling (public choice ...
The Calculus of Consent: Logical Foundations of Constitutional Democracy is a book published by economists James M. Buchanan and Gordon Tullock in 1962. It is considered to be one of the classic works from the discipline of public choice in economics and political science.
A simple model (with assumptions to be detailed later) is helpful to illustrate Tiebout's insight and theory. Suppose there are 2 * N families with identical income Y, 2 towns with N homes each, and each town supplies level G of local public schools.