Jennings, Colin - Scottish Institute for Research in Economics (SIRE) - 2009
better informed incumbent politician (2) the extent to which the population exhibits rational irrationality and … between informed and instrumental, informed and ‘expressive’ (Brennan and Lomasky (1993)) and uninformed due to ‘rational … irrationality’ (Caplan (2007)). It constructs a model where politicians may be good, bad or populist. Populists are more willing …