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Are they willing to participate? Areview on behavioral economics approach to voters turnout

Author

Listed:
  • Mostafa Raeisi SARKANDIZ

    (Faculty of Economics and Management, University of Tabriz, Tabriz, Iran)

Abstract

This article investigates the fundamental factors influencing the rate and manner of Electoral participation with an economic model-based approach. In this study, the structural parameters affecting people's decision making are divided into two categories. The first category includes general topics such as economic and livelihood status, cultural factors and, also, psychological variables. In this section, given that voters are analyzed within the context of consumer behavior theory, inflation and unemployment are considered as the most important economic factors. The second group of factors focuses more on the type of voting, with emphasis on government performance. Since the incumbent government and its supportive voters are in a game with two Nash equilibrium, and also because the voters in most cases are retrospect, the government seeks to keep its position by a deliberate change in economic factors, especially inflation and unemployment rates. Finally, to better understand the issue, a hypothetical example is presented and analyzed in a developing country in the form of a state-owned populist employment plan

Suggested Citation

  • Mostafa Raeisi SARKANDIZ, 2021. "Are they willing to participate? Areview on behavioral economics approach to voters turnout," Journal of Economics and Political Economy, EconSciences Journals, vol. 8(1), pages 43-57, March.
  • Handle: RePEc:cvv:journ1:v:8:y:2021:i:1:p:43-57
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    References listed on IDEAS

    as
    1. H. Leibenstein, 1950. "Bandwagon, Snob, and Veblen Effects in the Theory of Consumers' Demand," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 64(2), pages 183-207.
    2. 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..
    3. Corey, Elizabeth C & Garand, James C, 2002. "Are Government Employees More Likely to Vote?: An Analysis of Turnout in the 1996 U.S. National Election," Public Choice, Springer, vol. 111(3-4), pages 259-283, June.
    4. Aaron Edlin & Andrew Gelman & Noah Kaplan, 2007. "Voting as a Rational Choice," Rationality and Society, , vol. 19(3), pages 293-314, August.
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    JEL classification:

    • A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values
    • C70 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - General
    • D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory

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