choice Flashcards
vote choice can be influenced by
personal characteristics, political ideology and policy issues
what makes issues salient
elites, historical factors, evironmental changes, international actors
what issues become salient
cultural identities and policy issues
principal-agent problem
the principal delegates authority to the agent to act on their behalf. usually when principal does not have the capacity.
adverse selection
agent has info about their type befoe signing contract with principal. know how they value and how much effort theyll put in
moral hazard
agent develops private infor after they sign contact. after signing will decide how much effort theyll put in
strategic voting
chose candidate that isnt first choice because of the possible outcome of the candidate favored to win
arrows impossibility theorem
when there are 2+ candidates, no ranked voting rule can produce satisfactory results for everyone