The information-aggregation approach to political institutions

by: Thomas Piketty

European Economic Review, Vol. 43, No. 4-6. (April 1999), pp. 791-800.

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Abstract

This paper offers a short survey of recent contributions about the information-aggregation role of political institutions. We argue that these recent developments represent a promising come-back to the Condorcet's original approach to political economy and allow to renew the efficiency analysis of alternative political institutions. In the same way as in the economic literature on the price system and the informational rationale for non-market insitutions such as firms, this recent literature that the basic efficiency of majority-rule voting and other electoral systems needs to be complemented by non-voting political institutions such as political parties, public debate and polls.

@article{citeulike:2947791, abstract = {This paper offers a short survey of recent contributions about the information-aggregation role of political institutions. We argue that these recent developments represent a promising come-back to the Condorcet's original approach to political economy and allow to renew the efficiency analysis of alternative political institutions. In the same way as in the economic literature on the price system and the informational rationale for non-market insitutions such as firms, this recent literature that the basic efficiency of majority-rule voting and other electoral systems needs to be complemented by non-voting political institutions such as political parties, public debate and polls.}, author = {Piketty, Thomas }, citeulike-article-id = {2947791}, doi = {10.1016/S0014-2921(98)00094-4}, journal = {European Economic Review}, keywords = {information, policy, political\_economy}, month = {April}, number = {4-6}, pages = {791--800}, posted-at = {2008-07-01 13:09:24}, priority = {4}, title = {The information-aggregation approach to political institutions}, url = {http://dx.doi.org/10.1016/S0014-2921(98)00094-4}, volume = {43}, year = {1999} }

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TY - JOUR ID - citeulike:2947791 L3 - citeulike-article-id:2947791 TI - The information-aggregation approach to political institutions JF - European Economic Review VL - 43 IS - 4-6 SP - 791 EP - 800 N2 - This paper offers a short survey of recent contributions about the information-aggregation role of political institutions. We argue that these recent developments represent a promising come-back to the Condorcet's original approach to political economy and allow to renew the efficiency analysis of alternative political institutions. In the same way as in the economic literature on the price system and the informational rationale for non-market insitutions such as firms, this recent literature that the basic efficiency of majority-rule voting and other electoral systems needs to be complemented by non-voting political institutions such as political parties, public debate and polls. KW - information KW - policy KW - political_economy AU - Piketty, Thomas PY - 1999/04// UR - http://dx.doi.org/10.1016/S0014-2921(98)00094-4 ER -

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