Cost Benefit Analyses versus Referenda
We consider a planner who chooses between two public policies and ask whether a referendum or a cost benefit analysis leads to higher welfare. We find that a referendum leads to higher welfare than a cost benefit analysis in a "common value" environment. Cost benefit analysis is better in a "private value" environment. (c) 2010 by The University of Chicago. All rights reserved..
Year of publication: |
2010
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Authors: | Osborne, Martin J. ; Turner, Matthew A. |
Published in: |
Journal of Political Economy. - University of Chicago Press. - Vol. 118.2010, 1, p. 156-187
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Publisher: |
University of Chicago Press |
Saved in:
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