How Politicians Make Decisions: A Political Choice Experiment
AbstractThe present paper reports on a political choice experiment with elected real-world politicians. A questionnaire on political and public issues is taken to examine whether prospect theory predicts the responses of experts from the field better than rational choice theory. The results indicate that framing effects exist but that expertise may weaken the deviation from rational choice.
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Bibliographic InfoArticle provided by Springer in its journal Journal of Economics.
Volume (Year): 92 (2007)
Issue (Month): 2 (October)
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Web page: http://www.springerlink.com/link.asp?id=108909
subject pool effect; subject surrogacy; expected utility theory; prospect theory; C91; D72; D81;
Other versions of this item:
- Enrique Fatás & Tibor Neugebauer & Pilar Tamborero, 2004. "How Politicians Make Decisions: A Political Choice Experiment," IESA Working Papers Series 0410, Institute for Social Syudies of Andalusia - Higher Council for Scientific Research.
- C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
- D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
- D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
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