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The Credibility Factor in Elections: Evidence from Britain's Nationwide Building Society's Vote Against Conversion

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  • Stephanie Hoopes

Abstract

Why did members of Nationwide Building Society vote against converting to a bank and, by doing so,turn down a £ 2,000 windfall each? The findings of a survey of Nationwide members show that voters make more sophisticated and calculated choices than previously believed. In the Nationwide case, the voting decision was a calculation of costs and benefits as well as an evaluation of the likelihood that they would in fact be realised. The inclusion of a likelihood variable, which is based on information and attitude towards risk, provides a more realistic approach to understanding voting in rational choice terms. Copyright Kluwer Academic Publishers 2001

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  • Stephanie Hoopes, 2001. "The Credibility Factor in Elections: Evidence from Britain's Nationwide Building Society's Vote Against Conversion," Public Choice, Springer, vol. 107(1), pages 115-133, April.
    • Handle: RePEc:kap:pubcho:v:107:y:2001:i:1:p:115-133
    DOI: 10.1023/A:1010375907602
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    References listed on IDEAS

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    1. Enelow, James M & Munger, Michael C, 1993. "The Elements of Candidate Reputation: The Effect of Record and Credibility on Optimal Spatial Location," Public Choice, Springer, vol. 77(4), pages 757-772, December.
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    4. Anthony Downs, 1957. "An Economic Theory of Political Action in a Democracy," Journal of Political Economy, University of Chicago Press, vol. 65(2), pages 135-135.
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