Thursday, January 7, 2010

Consumers vs. voters

Why voters are likely to make worse decisions than consumers:
One underappreciated fact about the experimental and survey evidence relied on by advocates of the new paternalism is that it models voter decision-making far more closely than market decisions. Unlike market participants, voters have little or no incentive to either acquire information about the issues they decide, or to analyze the information they do have in an unbiased fashion.

No comments:

Post a Comment