Public choice: Public choice theory applies economic analysis to political decision-making. It examines how individuals' self-interest and incentives influence public policy outcomes, elections, and government actions. This theory suggests that politicians, voters, and bureaucrats act rationally to maximize their own interests, shaping government behavior and policies, often leading to an understanding of public decision-making through an economic lens.
See also Rationality, Decisions, Decision-making processes, Decision theory, Politics, Economy, Behavioral economics._____________Annotation: The above characterizations of concepts are neither definitions nor exhausting presentations of problems related to them. Instead, they are intended to give a short introduction to the contributions below. – Lexicon of Arguments. |