IDEAS home Printed from https://ideas.repec.org/a/bpj/jeehcn/v21y2015i1-2p67-78n2.html
   My bibliography  Save this article

Rational Irrationality Across Institutional Contexts

Author

Listed:
  • Murphy Ryan H.

    (SMU Cox School of Business, O’Neil Center for Global Markets and Freedom, Southern Methodist University, P.O. Box 750333, Dallas, TX 75275, USA)

Abstract

This paper considers how Bryan Caplan’s concept of rational irrationality may manifest in various political institutional arrangements, building off the demand curve for irrationality. Mob democracy, anarchy, autocracy, and constitutionally constrained democracy are the governance structures addressed. While anarchy is strictly better than mob democracy, under certain conditions, democracy, anarchy, or constitutionally constrained democracy may yield the best outcomes depending on the circumstances.

Suggested Citation

  • Murphy Ryan H., 2015. "Rational Irrationality Across Institutional Contexts," Journal des Economistes et des Etudes Humaines, De Gruyter, vol. 21(1-2), pages 67-78, December.
    • Handle: RePEc:bpj:jeehcn:v:21:y:2015:i:1-2:p:67-78:n:2
    DOI: 10.1515/jeeh-2015-0005
    as

    Download full text from publisher

    File URL: https://doi.org/10.1515/jeeh-2015-0005
    Download Restriction: For access to full text, subscription to the journal or payment for the individual article is required.
    File URL: https://libkey.io/10.1515/jeeh-2015-0005?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Dani Rodrik, 2006. "Institutions for High-Quality Growth: What They Are and How to Acquire Them," Chapters, in: Kartik Roy & Jörn Sideras (ed.), Institutions, Globalisation and Empowerment, chapter 2, Edward Elgar Publishing.
    2. Bryan Caplan, 2010. "Persuasion, slack, and traps: how can economists change the world?," Public Choice, Springer, vol. 142(1), pages 1-8, January.
    3. 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.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Ryan H. Murphy, 2019. "Governance and the dimensions of autocracy," Constitutional Political Economy, Springer, vol. 30(2), pages 131-148, June.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Juan Pineiro Chousa & Haider Ali Khan & Davit N. Melikyan & Artur Tamazian, 2005. "Institutional and Financial Determinants of Development: New Evidence from Advanced and Emerging Markets," CIRJE F-Series CIRJE-F-326, CIRJE, Faculty of Economics, University of Tokyo.
    2. Chakraborty, Adrij, 2017. "Colonial Origins and Comparative Development: Institutions Matter," MPRA Paper 86320, University Library of Munich, Germany, revised Feb 2018.
    3. Hamilton-Hart, Natasha & Stringer, Christina, 2016. "Upgrading and exploitation in the fishing industry: Contributions of value chain analysis," Marine Policy, Elsevier, vol. 63(C), pages 166-171.
    4. Elert, Niklas & Henrekson, Magnus, 2017. "Entrepreneurship and Institutions: A Bidirectional Relationship," Working Paper Series 1153, Research Institute of Industrial Economics, revised 05 May 2017.
    5. Pauline Grosjean & Claudia Senik, 2011. "Democracy, Market Liberalization, and Political Preferences," The Review of Economics and Statistics, MIT Press, vol. 93(1), pages 365-381, February.
    6. Thierry Kangoye, 2008. "Instability from trade and democracy: the long-run effect of aid," Post-Print hal-00331902, HAL.
    7. Bagella, Michele & Becchetti, Leonardo & Hasan, Iftekhar, 2004. "The anticipated and concurring effects of the EMU: exchange rate volatility, institutions and growth," Journal of International Money and Finance, Elsevier, vol. 23(7-8), pages 1053-1080.
    8. Casson, Mark C. & Della Giusta, Marina & Kambhampati, Uma S., 2010. "Formal and Informal Institutions and Development," World Development, Elsevier, vol. 38(2), pages 137-141, February.
    9. Ricardo Fort, 2007. "Land inequality and economic growth: a dynamic panel data approach," Agricultural Economics, International Association of Agricultural Economists, vol. 37(2‐3), pages 159-165, September.
    10. Grajzl, Peter & Baniak, Andrzej, 2018. "Private enforcement, corruption, and antitrust design," Journal of Comparative Economics, Elsevier, vol. 46(1), pages 284-307.
    11. Matthias Finger & Rolf W. Künneke (ed.), 2011. "International Handbook of Network Industries," Books, Edward Elgar Publishing, number 12961.
    12. Simplice A. Asongu, 2014. "Finance and Democracy in Africa," Institutions and Economies (formerly known as International Journal of Institutions and Economies), Faculty of Economics and Administration, University of Malaya, vol. 6(3), pages 92-116, October.
    13. André Schultz & Alexander Libman, 2015. "Is there a local knowledge advantage in federations? Evidence from a natural experiment," Public Choice, Springer, vol. 162(1), pages 25-42, January.
    14. Jacob M. Meyer, 2020. "Checks and Imbalances: Exploring the Links between Political Constraints and Banking Crises using Econometric Mediation," Journal of Economics and Econometrics, Economics and Econometrics Society, vol. 63(1), pages 71-96.
    15. Mounir Amdaoud, 2019. "Ressources naturelles, innovation et développement économique : vers une nouvelle approche," CEPN Working Papers 2019-06, Centre d'Economie de l'Université de Paris Nord.
    16. Natalia Mishagina & Claude Montmarquette, 2018. "The Demand for Economic Policies, Beliefs, and Willingness-to-Pay: The Case of the Minimum Wage Policy in Quebec," CIRANO Project Reports 2018rp-14, CIRANO.
    17. Shayo, Moses & Harel, Alon, 2012. "Non-consequentialist voting," Journal of Economic Behavior & Organization, Elsevier, vol. 81(1), pages 299-313.
    18. Theiss Bendixen, 2020. "How cultural evolution can inform the science of science communication—and vice versa," Palgrave Communications, Palgrave Macmillan, vol. 7(1), pages 1-10, December.
    19. Micael Castanheira & Gaëtan Nicodème & Paola Profeta, 2012. "On the political economics of tax reforms: survey and empirical assessment," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 19(4), pages 598-624, August.
    20. Jakob Haan, 2007. "Political institutions and economic growth reconsidered," Public Choice, Springer, vol. 131(3), pages 281-292, June.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bpj:jeehcn:v:21:y:2015:i:1-2:p:67-78:n:2. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Peter Golla (email available below). General contact details of provider: https://www.degruyter.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.