Inefficient redistribution and inefficient redistributive politics
AbstractThis paper examines the effect of inefficient redistribution in Myersonâs (1993) model of redistributive politics. Regardless of the absolute levels of the efficiency of political partiesâ transfers to different voter segments, parties have incentive to (stochastically) shift resources away from voter segments with large relative efficiency gaps between the two partiesâ transfers towards voter segments with smaller relative efficiency gaps. Because of this dependence on relative, and not absolute, levels of efficiency, the partiesâ optimal strategies may lead to large discrepancies between the sum of the budgetary transfers and the sum of the effective transfers. At the extreme, in the spirit of Magee, Brock, and Young (1989), we obtain âblack holeâ inefficiency. When the model is extended to allow for loyal voter segments and loyalty to a party is positively related to the efficiency of that partyâs transfers to the segment, the incentives leading to black hole inefficiency become even stronger.
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Bibliographic InfoArticle provided by Springer in its journal Public Choice.
Volume (Year): 139 (2009)
Issue (Month): 3 (June)
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Web page: http://www.springerlink.com/link.asp?id=100332
Redistributive politics; Inefficient redistribution; Black-hole inefficiency; Party loyalty; Colonel Blotto game;
Other versions of this item:
- Dan Kovenock & Brian Roberson, 2007. "Inefficient Redistribution and Inefficient Redistributive Politics," Purdue University Economics Working Papers 1206, Purdue University, Department of Economics.
- Kovenock, Dan & Roberson, Brian, 2008. "Inefficient redistribution and inefficient redistributive politics," Discussion Papers, Research Unit: Market Processes and Governance SP II 2008-01, Social Science Research Center Berlin (WZB).
- C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
- D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
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