An Economic Theory of DemocracyThis book seeks to elucidate its subject-the governing of democratic state-by making intelligible the party politics of democracies. Downs treats this differently than do other students of politics. His explanations are systematically related to, and deducible from, precisely stated assumptions about the motivations that attend the decisions of voters and parties and the environment in which they act. He is consciously concerned with the economy in explanation, that is, with attempting to account for phenomena in terms of a very limited number of facts and postulates. He is concerned also with the central features of party politics in any democratic state, not with that in the United States or any other single country. |
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Page 222
... free " information . None of the information a man re- ceives is completely costless . Merely perceiving it takes time ; and if he assimilates it or thinks about it , these acts take more time . Thus unless the opportunity cost of this ...
... free " information . None of the information a man re- ceives is completely costless . Merely perceiving it takes time ; and if he assimilates it or thinks about it , these acts take more time . Thus unless the opportunity cost of this ...
Page 223
... free benefit . Free political information from these sources is of two types : acci- dental and sought - for Accidental data are ... information is also the chief instrument for each HOW RATIONAL CITIZENS REDUCE INFORMATION COSTS 223.
... free benefit . Free political information from these sources is of two types : acci- dental and sought - for Accidental data are ... information is also the chief instrument for each HOW RATIONAL CITIZENS REDUCE INFORMATION COSTS 223.
Page 245
... information relevant to voting derives its worth . We must therefore substitute the vote value , which is nearly ... free information , or how uncertain he is about which party to support , he realizes that his vote has almost no ...
... information relevant to voting derives its worth . We must therefore substitute the vote value , which is nearly ... free information , or how uncertain he is about which party to support , he realizes that his vote has almost no ...
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Common terms and phrases
abstain alternatives analysis assume assumption axiom basic benefits cause ceteris paribus citizen X coalition competition conclusion cost of voting decision-making democracy Derived from Chapter discount distribution of voters division of labor economic theory economists effect election period electorate equal ernment exist extremist fact favor free information free market gain goals government action government policy government's groups hence ideologies incumbents indifferent individual influence irrational issue Kenneth Arrow marginal cost marginal equilibrium maximize means ment motives multiparty system oligopoly opposition parties outcome Paretian optimum party differential party's pay-off political information political parties position possible preferences problem Proposition rational citizen rational voter real world reason reëlected return from voting scale selection principles social society strategy tion two-party system uncertainty utility functions utility income V. O. Key views vote-selling voting decision welfare Welfare Economics well-informed zero