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What is Public Choice: Unanimous Decision-Making about?

This chapter discusses public choice theory, focusing on collective decision-making processes and their implications for social welfare. It highlights the challenges of achieving unanimous collective choice, including issues of coercion and free riding, and explores alternative voting methods like optimal majority rule and simple majority voting. The chapter concludes that while unanimity provides a welfare benchmark, practical decision-making often involves trade-offs between efficiency and equity.

Author

aohapal

Language

EN