Asked by
Noelia Cordova
on Nov 25, 2024Verified
Majority voting on whether or not a public good should be produced could lead to a result where a public good whose costs are bigger than the benefits would end up getting approved by the voters.
Majority Voting
A decision-making process whereby a decision is made based on the preference of more than half of the members voting.
Public Good
This is a good that is non-excludable and non-rivalrous in consumption, meaning it can be used by everyone and one's use does not diminish another's.
Costs
The outlay or expenditure (monetary or otherwise) incurred by a business or individual in the process of producing or offering goods and services.
- Explore the consequences and role of majority voting as well as the paradox involved in voting mechanisms in political choices.
Verified Answer
AF
Learning Objectives
- Explore the consequences and role of majority voting as well as the paradox involved in voting mechanisms in political choices.