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Voting as Investment vs. Voting as Consumption: New Evidence

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  • Guttman, Joel M
  • Hilger, Naftali
  • Shachmurove, Yochanan

Abstract

Economists have long been puzzled by the fact that people vote in elections even though their influence on the electoral outcome is infinitesimal and they can 'free ride' on the voting of voters favoring the same candidate. This well-known 'paradox of voting' assumes that people vote as an investment in the electoral outcome. The authors develop a new test of the hypothesis that voting is a form of investment, as opposed to the alternative hypothesis that voting is a form of consumption. Their empirical results suggest that voting is a form of consumption, implying that the paradox of voting may be exaggerated. Copyright 1994 by WWZ and Helbing & Lichtenhahn Verlag AG

Suggested Citation

  • Guttman, Joel M & Hilger, Naftali & Shachmurove, Yochanan, 1994. "Voting as Investment vs. Voting as Consumption: New Evidence," Kyklos, Wiley Blackwell, vol. 47(2), pages 197-207.
  • Handle: RePEc:bla:kyklos:v:47:y:1994:i:2:p:197-207
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    References listed on IDEAS

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    1. Wolff,Edward N., 2006. "Growth, Accumulation, and Unproductive Activity," Cambridge Books, Cambridge University Press, number 9780521034753, March.
    2. Dora L. Costa, 1998. "The Evolution of Retirement: An American Economic History, 1880-1990," NBER Books, National Bureau of Economic Research, Inc, number cost98-1, January.
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    Cited by:

    1. Hillman, Arye L. & Metsuyanim, Kfir & Potrafke, Niklas, 2015. "Democracy with group identity," European Journal of Political Economy, Elsevier, vol. 40(PB), pages 274-287.
    2. Joel Guttman & Rafael Reuveny, 2014. "On revolt and endogenous economic policy in autocratic regimes," Public Choice, Springer, vol. 159(1), pages 27-52, April.
    3. Michelsen, Claus & Bönisch, Peter & Rosenfeld, Martin T. W., 2010. "Sharing Competences: The Impact of Local Institutional Settings on Voter Turnout," IWH Discussion Papers 21/2010, Halle Institute for Economic Research (IWH).
    4. Schnellenbach, Jan & Schubert, Christian, 2015. "Behavioral political economy: A survey," European Journal of Political Economy, Elsevier, vol. 40(PB), pages 395-417.
    5. Hillman, Arye L., 2010. "Expressive behavior in economics and politics," European Journal of Political Economy, Elsevier, vol. 26(4), pages 403-418, December.
    6. Hamlin, Alan & Jennings, Colin, 2011. "Expressive Political Behaviour: Foundations, Scope and Implications," British Journal of Political Science, Cambridge University Press, vol. 41(03), pages 645-670, July.
    7. Gökhan R. Karahan & R. Morris Coats & William F. Shughart, 2009. "And the Beat Goes On: Further Evidence on Voting on the Form of County Governance in the Midst of Public Corruption," Kyklos, Wiley Blackwell, vol. 62(1), pages 65-84, February.
    8. Schnellenbach, Jan & Schubert, Christian, 2014. "Behavioral public choice: A survey," Freiburg Discussion Papers on Constitutional Economics 14/03, Walter Eucken Institut e.V..

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