Private Markets and Political Markets: A Comparative Analysis Cover Image
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Частни пазари и политически пазари: съпоставителен анализ
Private Markets and Political Markets: A Comparative Analysis

Author(s): Stefka Koeva
Subject(s): Economy
Published by: Институт за икономически изследвания при Българска академия на науките
Keywords: D70; D72; H10

Summary/Abstract: This is a study of the political sphere from the perspective of the public choice theory. It analyses the political markets in comparison to the private markets within the microeconomic theoretical framework (methodological individualism, rational choice theory, self-interest axiom). Part one studies the similarities (scarcity constraints; choosing, rational and self-interested individuals; competition), as well as the differences (institutional constraints, the individual cost-benefit calculus, time dimension of the decision-making process, consequences of the individual choice, responsibility, etc.) in the two types of markets. Part two compares the private and political market failures. Part three analyses in-depth a particular pathology in the political markets: the phenomenon of the voter’s rational apathy (ignorance/abstention).

  • Issue Year: 2008
  • Issue No: 1
  • Page Range: 30-57
  • Page Count: 28
  • Language: Bulgarian