Public Choice Economics
© 2015 Elsevier Ltd. All rights reserved. Public choice is the application of economic methods and behavioral assumptions to nonmarket collective choice institutions. There are six major questions that public choice has focused on: collective action, controlling Leviathan, delegation, democratic coherence, information problems, and rent-seeking. Public choice has important implications for institutional design, particularly under the assumption that political actors may be motivated by interests other than the public interest. Public choice has given rise to important areas of study in empirical behavioral economics, including experimental economics, and to the study of common pool resource management institutions.
- International Encyclopedia of the Social & Behavioral Sciences: Second Edition
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International Standard Book Number 13 (ISBN-13)
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