Votes and outcomes: Rethinking the politics-like-markets metaphor

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Abstract

Legislative and political bodies seldom work like markets. This paper revisits the politics-like-market analogies considering the role of logrolling in political representation. These considerations will hopefully facilitate the assessment of the normative implications of the "commodification" of political consensus. While certainly corroding some of the aspirational and expressive qualities of the political system, logrolling would ensure a greater opportunity for cardinal preferences to be captured in political decision-making.

Original languageEnglish (US)
Pages (from-to)183-192
Number of pages10
JournalEuropean Journal of Law and Economics
Volume13
Issue number3
DOIs
StatePublished - Jan 1 2002

Keywords

  • Arrow's theorem
  • Logrolling
  • Political markets

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