4,263 research outputs found

    Law for the Common Man: An Individual-Level Theory of Values, Expanded Rationality, and the Law

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    This article makes an admittedly bold attempt at outlining an analytical framework for addressing this question. Instead of looking at the legal implications of bounded rationality -- an exercise highly worthy in its own right -- this article advances a theory of expanded rationality. This theory retains the element of rationality in that people respond to incentives in an attempt to attain utility, and it does not question the observation that decision-making is often bounded due to various factors

    Where do preferences come from?

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    Rational choice theory analyzes how an agent can rationally act, given his or her preferences, but says little about where those preferences come from. Instead, pref- erences are usually assumed to be �xed and exogenously given. Building on related work on reasons and rational choice (Dietrich and List forthcoming), we describe a framework for conceptualizing preference formation and preference change. In our model, an agent's preferences are based on certain motivationally salientproperties of the alternatives over which the preferences are held. Preferences may change as new properties of the alternatives become salient or previously salient ones cease to be so. We suggest that our approach captures endogenous preferences in various contexts, and helps to illuminate the distinction between formal and substantive concepts of rationality, as well as the role of perception in rational choice.preference formation, preference change, properties, motivations, reasons, endogenous preferences, formal versus substantive rationality, perception

    Where do preferences come from?

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    Rational choice theory analyzes how an agent can rationally act, given his or her preferences, but says little about where those preferences come from. Instead, preferences are usually assumed to be .xed and exogenously given. We introduce a framework for conceptualizing preference formation and preference change. In our model, an agent.s preferences are based on certain .motivationally salient.properties of the alternatives over which the preferences are held. Preferences may change as new properties of the alternatives become salient or previously salient ones cease to be so. We suggest that our approach captures endogenous preferences in various contexts, and helps to illuminate the distinction between formal and substantive concepts of rationality, as well as the role of perception in rational choice.microeconomics ;

    Political Culture and Covalent Bonding: A Conceptual Model of Political Culture Change

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    Our class of models aims at explaining the dynamics of political attitude change by means of the dynamic changes in values, beliefs, norms and knowledge with which it is associated. The model constructs a political culture perspective over the relationship between macro and micro levels of a society and polity. The model defines the bonding mechanism as a basic mechanism of the political culture change by taking inspiration from the valence bonding theory in Chemistry, which has inspired the elaboration of the mechanisms and processes underlying the political culture emergence and the political culture control over the relationship between macro-level political entities and the micro-level individual agents. The model introduces operational definitions of the individual agent in political culture terms. The simulation model is used for the study of emergent political culture change phenomena based on individual interactions (emergent or upward causation) as well as the ways in which the macro entities and emergent phenomena influence in turn the behaviors of individual agents (downward causation). The model is used in the ongoing research concerning the quality of democracy and political participation of the citizens in the Eastern European societies after the Fall of Berlin Wall. It is particularly aimed at explaining the long-term effect of the communist legacy and of the communist polity concept and organization onto the political mentalities and behaviors of the citizens with respect to democratic institutions and political power. The model has major implications in political socialization, political involvement, political behavior, corruption and polity modeling

    Left, Right, Left: Income and Political Dynamics in Transition Economies

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    The political left turn in Latin America, which lagged its transition to liberalized market economies by a decade or more, challenges conventional economic explanations of voting behavior. While the implications of upward mobility for the political preferences of forward-looking voters have been studied, neither the upward mobility model nor conventional myopic median voter models are well equipped to explain Latin America's political transformation. This paper generalizes the forward-looking voter model to consider a broad range of dynamic processes. When voters have full information on the nature of income dynamics in a transition economy, we show that strong support for redistributive policies will materialize rapidly if income dynamics offer few prospects of upward mobility for key sections of the electorate. In contrast, when voters have imperfect information, our model predicts a slow and politically polarizing shift toward redistributive voter preferences under these same non-concave income dynamics. Simulation using fitted income dynamics for two Latin American economies suggests that the imperfect information model better accounts for the observed shift back to the left in Latin America, and that this generalized, forward-looking voter approach may offer additional insights about political dynamics in other transition economies.income dynamics, redistributive politics, polarization, Bayesian learning, Latin America

    The Drawbacks of Electoral Competition

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    We examine the effect of the number of candidates and the impact of ideology on the efficiency of the electoral process. We show that the tendency to focus on policies that provide particularistic benefits increases with the number of candidates to the expense of policies that benefit the population at large. Thus, the efficiency of policies provided in an electoral equilibrium worsens when the number of candidates increases. We next show that partisan voters are disadvantaged in the process of redistributive politics, and that the larger the fraction of voters who vote ideologically, the less efficient the political process. This is because electoral competition focuses on swing voters, increasing the values of policies with targetable benefits.

    Models of Political Economy

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    Models of Political Economy will introduce students to the basic methodology of political economics. It covers all core theories as well as new developments including: decision theory game theory mechanism design games of asymmetric information. Hannu Nurmi's text will prove to be invaluable to all students who wish to understand this increasingly technical field
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