This article attempts to establish a link between voting theory and price theory. The median voter is characterized as a monopsonist who sets a price for the winning vote in an election. As such, the median voter can extract rents from the political sector as a function of the price of...

In this paper we present a point voting system with declining weights on votes Abstract for the representation of spillover interests among governments in a federalist system. In theory our model represents a formalization in terms of voting of Musgrave's proposal of varying benefit taxes to...

In a 1971 paper Kramer attempted to establish empirically that macroeconomic variables have a significant impact on the vote shares received by Democratic and Republican congressional candidates. He found mixed results, with the growth rate in per capita real income and the inflation rate being...

This article is about addiction control. Using the economic theory of labor market tournaments, the authors derive the positive characteristics of an addiction control tournament and compare the effectiveness of a tournament versus self-constraining methods of addiction control. The authors also...

This article investigates the impact of earmarking on tax revenues. By dedicat-ing revenues to a particular purpose, earmarking overcomes a free-rider problem among interest groups. The group receiving the benefits of the dedi cated revenues has a strong incentive to lobby for higher effective...

There is no lack of opinion whether the public sector in the United States is too large or too small and there may even be a few who would argue that the present public-private mix is the correct one. While different individuals inevitably have different opinions given their underlying...

This paper demonstrates that bureaucratic decision-making is a more complex process than the literature that focuses narrowly on the lack of appropriability of gains and losses from efficient decision-making implies. The paper delineates some of the other types of constraints under which the...