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A Theory of Political Participation

Author

Listed:
  • Isa, Berk Orkun
  • Yucel, Mustafa Eray

Abstract

This paper lays down a mathematical model of political participation where participatory behavior functions as insurance against redistribution of resources. Abstracting a broad notion of political participation to its tangible bene�fits and costs, we elaborate the participatory behavior from the perspectives of Expected Utility and Cumulative Prospect Theory. Our elaboration reveals that the relative degrees of risk aversion and loss aversion yield a multiplicity of equilibria, sheds light on the recently observed absenteeism in political participation and suggest that participation would not increase unless the material domain of politics itself is altered.

Suggested Citation

  • Isa, Berk Orkun & Yucel, Mustafa Eray, 2020. "A Theory of Political Participation," MPRA Paper 108818, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:108818
    as

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    File URL: https://mpra.ub.uni-muenchen.de/108818/1/MPRA_paper_108818.pdf
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    References listed on IDEAS

    as
    1. Acemoglu,Daron & Robinson,James A., 2009. "Economic Origins of Dictatorship and Democracy," Cambridge Books, Cambridge University Press, number 9780521671422.
    2. Alberto F. Alesina & Paola Giuliano, 2009. "Preferences for Redistribution," NBER Working Papers 14825, National Bureau of Economic Research, Inc.
    3. Daniel Kahneman & Amos Tversky, 2013. "Prospect Theory: An Analysis of Decision Under Risk," World Scientific Book Chapters, in: Leonard C MacLean & William T Ziemba (ed.), HANDBOOK OF THE FUNDAMENTALS OF FINANCIAL DECISION MAKING Part I, chapter 6, pages 99-127, World Scientific Publishing Co. Pte. Ltd..
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Political Participation; Cumulative Prospect Theory; Risk Aversion; Insurance; Lobbying;
    All these keywords.

    JEL classification:

    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
    • P16 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Capitalist Institutions; Welfare State

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