Bischoff, Ivo; Siemers, Lars H.R - 2010
perspective the claim that biased beliefs lead to bad policy outcomes in democracy, as has been argued, for instance, by Bryan … Caplan (2007: The myth of the rational voter). We show that there is a self-correction mechanism in democracy that may … mitigate the problem of biased beliefs. Democracy is characterized by suffering from mediocre mixtures of populist and good …