Public choice theory
Public choice theory is a social science that studies the decision-making behaviors of voters, politicians and government officials from the perspective of economic theory. Its most noted advocate is James M.
Public choice applies the theories and methods of economics to the analysis of political behavior, an area that was once the exclusive province of political scientists and sociologists.
public choice models models of government behavior that assume that those in government take actions to maximize their own well-being, such as getting reelected. (15) ...
PUBLIC CHOICE: A branch of economics that applies economic analysis to public (that is, government) decision-making, including voting behavior, legislative law-making, and related issues.
Public Choice theorist often argue that more needs to be done to limit the governments ability to collect higher tax revenues otherwise government spending has a tendency to rise crowding out the more efficient private sector.
Theory of public choice The study of collective decision making.
Third parties Parties other than the buyer and seller of the product.
Three P's Private property, profits, and prices inherent in capitalism.
An American economist and winner of the 1986 Nobel Memorial Prize in Economics for his contributions to public choice theory. Born in Tennessee in 1919, Buchanan Jr. earned his Ph.D.
Sobel, Economics: Private and Public Choice, p. 46.
^ Pugel, Thomas A. (2003). International economics. Boston: McGraw-Hill. ISBN 007119875X.
^ "It is in this revolutionary sense alone, gentlemen, that I vote in favor of free trade.
Public choice theory [r]: A theory of government decision-making that takes account of rent-seeking by decision-makers. [e]
Public expenditure [r]: Spending by the public sector [e] ...
 See also: Welfare, Equilibrium, Keynesian, Political economy, Smith
  
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