THE ECONOMICS OF ILLUSION*
作者:
George A. Akerlof,
期刊:
Economics&Politics
(WILEY Available online 1989)
卷期:
Volume 1,
issue 1
页码: 1-15
ISSN:0954-1985
年代: 1989
DOI:10.1111/j.1468-0343.1989.tb00002.x
出版商: Blackwell Publishing Ltd
数据来源: WILEY
摘要:
When individuals choose not only goods, but also how to process information, there is a bias: people tend to process information so that they feel good about themselves. This bias is particularly important in voting behavior, where agents have almost noindividualeffect on public choice outcomes, and therefore almost no incentive for unbiased use of information. Two examples are given. In one example, an adaptation of the classic overdepletion problem, the public chooses not to counteract externalities by appropriate tax policy. In the second example public policy follows the choices of experts, contrary to the interest of the public.
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