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| QUICK REVIEW 31-1 |
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- Majority voting can produce voting outcomes which
are inefficient; projects having greater total benefits than total costs can be defeated
and projects having greater total costs than total benefits can be approved.
- The paradox of voting occurs where voting by
majority rule does not provide a consistent ranking of society's preferences for public
goods and services.
- The median-voter model suggests that under
majority rule the voter having the middle preference will determine the outcome of an
election.
- Public sector failure allegedly occurs because of
rent seeking
pressure by special-interest groups
short sighted political behavior
limited and bundled choices
and bureaucratic inefficiency.
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