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Public Choice

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10-10-2021

Behavioral economics and public choice: introduction to a special issue

Authors: Gregory DeAngelo, Bryan C. McCannon

Published in: Public Choice | Issue 3-4/2022

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Abstract

We provide an introduction to a special issue on behavioral economics and public choice.

next article Favoritism and cooperation

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Behavioral symmetry and politics as exchange are the other two fundamental presumptions of public choice research.

Indeed, Richard Thaler was awarded the 2017 Nobel prize in economics for his contributions to behavioral economics.

We combine D9 with JEL code E7 (Macro-Based Behavioral Economics), but only three papers have listed this subfield in the past 20 years.

See DeAngelo and McCannon (2020) for a suggested formal modeling approach.

www.bi.team

See McChesney (2013) for a further discussion on this point.

Bicchieri, C., & Dimant, E. (2019). Nudging with care: The risks and benefits of social information. Public Choice, forthcoming. https://doi.org/10.1007/s11127-019-00684-6.

Boettke, P. J., & Thompson, H. A. (2019). Identity and off-diagonals: How permanent winning coalitions destroy democratic governance. Public Choice, forthcoming. https://doi.org/10.1007/s11127-019-00683-7.

Botelho, A., Harrison, G. W., Costa Pinto, L. M., Ross, D., & Ruström, E. E. (2021). Endogenous choice of institutional punishment mechanisms to promote social cooperation. Public Choice, forthcoming. https://doi.org/10.1007/s11127-020-00868-5.

Buchanan, J. M. (1978). Natural and artifactual man. In J. Buchanan (Ed.), The collected works of James M. Buchanan, Vol. I: The logical foundations of constitutional liberty. Indianapolis: Liberty Fund.

Buchanan, J. M., & Tullock, G. (1962). The calculus of consent: Logical foundations of constitutional democracy. University of Michigan Press.

Caplan, B. (2007). The myth of the rational voter: Why democracies choose bad policies. Princeton University Press.

Chen, D. L., Moskowitz, T. J., & Shue, K. (2016). Decision making under the gambler’s fallacy: Evidence from asylum judges, loan officers, and baseball umpires. Quarterly Journal of Economics, 131(3), 1181–1242.CrossRef

Congleton, R. (2019). Behavioral economics and the Virginia school of political economy: Overlaps and complementarities. Public Choice, forthcoming. https://doi.org/10.1007/s11127-019-00679-3.

DeAngelo, G. J., Dubois, D., & Romaniuc, R. (2020). The perils of democracy. Journal of Economic Behavior & Organization, 175, 328–340.CrossRef

DeAngelo, G., & McCannon, B. C. (2020). Psychological game theory in public choice. Public Choice, 182(1–2), 159–180.CrossRef

Fehr, E., & Gächter, S. (2000). Cooperation and punishment in public goods experiments. American Economic Review, 90(4), 980–994.CrossRef

Fehr, E., & Gächter, S. (2002). Altruistic punishment in humans. Nature, 415, 137–140.CrossRef

Harvey, A., & Mattia, T. (2019). Does money have a conservative bias? Estimating the causal impact of Citizens United on state legislative preferences. Public Choice, forthcoming. https://doi.org/10.1007/s11127-019-00721-4.

Hassan, M., Mansour, S., Voigt, S., & Gadallah, M. (2019). When Syria was in Egypt’s land: Egyptians cooperate with Syrians, but less with each other. Public Choice, forthcoming. https://doi.org/10.1007/s11127-019-00727-y.

Heath, J. (2020). Methodological individualism. In E. N. Zalta (Ed.), The Stanford encyclopedia of philosophy. Metaphysics Research Lab, Stanford University.

Isaac, R. M., & Norton, D. (2013). Endogenous institutions and the possibility of reverse crowding out. Public Choice, 156, 253–284.CrossRef

Jenke, L., & Munger, M. (2019). Attention distribution as a measure of issue salience. Public Choice, forthcoming. https://doi.org/10.1007/s11127-019-00711-6.

Kahneman, D. (2011). Thinking fast and slow. Penguin.

Lefgren, L. F., Sims, D. P., & Stoddard, O. B. (2016). Effort, luck, and voting for redistribution. Journal of Public Economics, 143, 89–97.CrossRef

McCannon, B. C., & Walker, P. (2016). Endogenous competence and a limit to the Condorcet Jury Theorem. Public Choice, 169(1), 1–18.CrossRef

McCannon, B. C., & Walker, P. (2020). Individual competence and committee decision making: Experimental evidence. Southern Economic Journal, 86(4), 1531–1558.CrossRef

McChesney, F. S. (2013). Behavioral economics: Old wine in irrelevant new bottles? Supreme Court Economic Review, 21, 43–76.CrossRef

Mollerstrom, J. (2019). Favoritism and cooperation. Public Choice, forthcoming. https://doi.org/10.1007/s11127-019-00716-1.

Morton, R. B., Ou, K., & Qin, X. (2020). Analytical thinking, prosocial voting, and intergroup competition: Experimental evidence from China. Public Choice, forthcoming. https://doi.org/10.1007/s11127-020-00859-6.

Olson, M. (1965). The logic of collective action: Public goods and the theory of groups. Harvard University Press.

Ostrom, E., Walker, J., & Gardner, R. (1992). Covenants with and without a sword: Self-governance is possible. American Journal of Political Science, 86(2), 404–417.CrossRef

Sugden, R. (2009). On nudging. Journal of Economics and Business, 16(3), 365–373.CrossRef

Thaler, R. (2018). From Cashews to Nudges: The evolution of behavioral economics. American Economic Review, 108(6), 1265–1287.CrossRef

Thaler, R. H., & Sunstein, C. R. (2003). Libertarian paternalism. American Economic Review, 93(2), 175–179.CrossRef

Thaler, R. H., & Sunstein, C. R. (2008). Nudge: Improving decisions about health, wealth, and happiness. Penguin.

Tullock, G. (1971). Public decisions as public goods. Journal of Political Economy, 79(4), 913–918.CrossRef

Viscusi, K. (2019). Efficiency criteria for nudges and norms. Public Choice, Forthcoming. https://doi.org/10.1007/s11127-019-00712-5CrossRef

Title: Behavioral economics and public choice: introduction to a special issue
Authors: Gregory DeAngelo
Bryan C. McCannon
Publication date: 10-10-2021
Publisher: Springer US
Published in: Public Choice / Issue 3-4/2022
Print ISSN: 0048-5829
Electronic ISSN: 1573-7101
DOI: https://doi.org/10.1007/s11127-021-00930-w

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Other articles of this Issue 3-4/2022

Attention distribution as a measure of issue salience

Identity and off-diagonals: how permanent winning coalitions destroy democratic governance

Efficiency criteria for nudges and norms

Analytical thinking, prosocial voting, and intergroup competition: experimental evidence from China

Behavioral economics and the Virginia school of political economy: overlaps and complementarities

Favoritism and cooperation

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