1 option
Is Political Competition Good for Social Welfare?.
- Format:
- Video
- Series:
- Academic Video Online
- Language:
- English
- Subjects (All):
- Game theory.
- Political games.
- Physical Description:
- 1 online resource (13 minutes)
- Place of Publication:
- [Place of publication not identified] : Latest Thinking, [date of publication not identified]
- System Details:
- video file
- Summary:
- The model presented in this video combines a game theoretic approach with mechanism design to examine the influence of competition on welfare maximization by politicians. It is shown that in "pure" competition between two politicians only the allocation of favors to the electorate helps winning elections, while welfare-maximizing tools of redistribution do not improve a politician's vote-share. As FELIX BIERBRAUER points out, one might follow that when trying to create welfare-maximizing outcomes, politics fail the same way markets do;and if the goal is to have efficient outcomes, political competition is as good or bad as a market.
- Notes:
- Title from resource description page (viewed August 24, 2020).
- Part of the metadata in this record was created by AI.
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