Journal of Political Economy Vol. 97 No. 6 1989
Why Democracies Produce Efficient Results
Abstract
By applying the standard tools of microeconomic analysis, the author argues that democratic markets work as well as economic markets. In particular, he shows that previous work has greatly exaggerated the existence of principal-agent and informational problems in electoral markets and has drawn incorrect conclusions.
- DOI
- 10.1086/261660
- Volume
- 97
- Issue
- 6
- Pages
- 1395-1424
- Language
- en
- Sources
- crossref openalex