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Information and political failures: to what extent does rational ignorance explain irrational beliefs formation?

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  • Louis Jaeck

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  • Louis Jaeck, 2011. "Information and political failures: to what extent does rational ignorance explain irrational beliefs formation?," Constitutional Political Economy, Springer, vol. 22(3), pages 287-301, September.
    • Handle: RePEc:kap:copoec:v:22:y:2011:i:3:p:287-301
    DOI: 10.1007/s10602-011-9108-x
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    5. Angela A. Hung & Charles R. Plott, 2001. "Information Cascades: Replication and an Extension to Majority Rule and Conformity-Rewarding Institutions," American Economic Review, American Economic Association, vol. 91(5), pages 1508-1520, December.
    6. Bikhchandani, Sushil & Hirshleifer, David & Welch, Ivo, 1992. "A Theory of Fads, Fashion, Custom, and Cultural Change in Informational Cascades," Journal of Political Economy, University of Chicago Press, vol. 100(5), pages 992-1026, October.
    7. Sunstein, Cass R, 1998. "Selective Fatalism," The Journal of Legal Studies, University of Chicago Press, vol. 27(2), pages 799-823, June.
    8. James T. Hamilton & W. Kip Viscusi, 1999. "Are Risk Regulators Rational? Evidence from Hazardous Waste Cleanup Decisions," American Economic Review, American Economic Association, vol. 89(4), pages 1010-1027, September.
    9. Brady, Gordon L & Clark, J R & Davis, William L, 1995. "The Political Economy of Dissonance," Public Choice, Springer, vol. 82(1-2), pages 37-51, January.
    10. Hirshleifer, David, 1993. "The Blind Leading the Blind: Social Influence, Fads, and Informational Cascades," University of California at Los Angeles, Anderson Graduate School of Management qt8wz980p5, Anderson Graduate School of Management, UCLA.
    11. Spitzer, Matthew L, 1990. "Some Implications of Cognitive Psychology for Risk Regulation: Comment," The Journal of Legal Studies, University of Chicago Press, vol. 19(2), pages 801-808, June.
    12. George A. Akerlof, 1980. "A Theory of Social Custom, of which Unemployment may be One Consequence," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 94(4), pages 749-775.
    13. Noll, Roger G & Krier, James E, 1990. "Some Implications of Cognitive Psychology for Risk Regulation," The Journal of Legal Studies, University of Chicago Press, vol. 19(2), pages 747-779, June.
    14. Stephen Morris, 2001. "Political Correctness," Journal of Political Economy, University of Chicago Press, vol. 109(2), pages 231-265, April.
    15. Kuran, Timur, 1990. "Private and Public Preferences," Economics and Philosophy, Cambridge University Press, vol. 6(1), pages 1-26, April.
    16. Bryan Caplan, 2001. "Rational Ignorance versus Rational Irrationality," Kyklos, Wiley Blackwell, vol. 54(1), pages 3-26, February.
    17. Bryan Caplan, 2003. "The Logic of Collective Belief," Rationality and Society, , vol. 15(2), pages 218-242, May.
    18. Viscusi, W. Kip, 1998. "Rational Risk Policy: The 1996 Arne Ryde Memorial Lectures," OUP Catalogue, Oxford University Press, number 9780198293637.
    19. Y. Stephen Chiu, 2002. "On the Feasibility of Unpopular Policies under Re-Election Concerns," Southern Economic Journal, John Wiley & Sons, vol. 68(4), pages 841-858, April.
    20. Alston, Richard M & Kearl, J R & Vaughan, Michael B, 1992. "Is There a Consensus among Economists in the 1990's?," American Economic Review, American Economic Association, vol. 82(2), pages 203-209, May.
    21. Louis Jaeck & Gilbert Bougi, 2010. "Dynamics of Environmental Regulation and Voter’s Biased Beliefs : a Political Economy Approach," CAE Working Papers 83, Aix-Marseille Université, CERGAM.
    22. Bryan Caplan, 2007. "Introduction to The Myth of the Rational Voter: Why Democracies Choose Bad Policies," Introductory Chapters, in: The Myth of the Rational Voter: Why Democracies Choose Bad Policies, Princeton University Press.
    23. Fernandez, Raquel & Rodrik, Dani, 1991. "Resistance to Reform: Status Quo Bias in the Presence of Individual-Specific Uncertainty," American Economic Review, American Economic Association, vol. 81(5), pages 1146-1155, December.
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    More about this item

    Keywords

    Rational ignorance; Beliefs; Pressure group; Political failures; Irrationality; DO3; D83; D72;
    All these keywords.

    JEL classification:

    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior

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