Public choice theory: Difference between revisions
(Created page with "==Definition== '''Public choice theory''' (also called '''public choice economics''') refers to the use of economic tools to study the actions of political actors. Specifically,...") |
(No difference)
|
Revision as of 18:13, 3 December 2011
Definition
Public choice theory (also called public choice economics) refers to the use of economic tools to study the actions of political actors. Specifically, it incorporates a key assumption that political actors are largely motivated by self-interest and hence respond to incentives.
It is a positive (as opposed to a normative) approach to the study of politics, i.e., it aims to describes how political actors do behave rather than how they should behave.