An in-depth look at the Median Voter Theorem, a fundamental result in political economics that describes how the median voter's preference dominates in a majority voting system. Includes historical context, key concepts, mathematical models, and real-world examples.
Understanding how societies make collective decisions, including the historical context, theories, mathematical models, and practical implications.
Public Choice is a field that applies economic theory to analyze the decision-making processes, behaviors, and outcomes in the public sector, especially in relation to the demand and supply of government services. Analysts treat the public sector as a supplier focused on maximizing its welfare and supporting incumbent politicians' reelection.
