Ignorance and the Incentive Structure Confronting Policymakers
The Center for the History of Political Economy Working Paper Series at Duke University
21 Pages Posted: 12 Sep 2018
Date Written: August 21, 2018
The paper examines one of the considerations that determines the extent to which policymakers pursue the objectives demanded by constituents. The nature and extent of their ignorance serve to determine the incentives confronted by policymakers to pursue their constituents' demands. The paper also considers several other consequences of policymaker ignorance.
Keywords: political epistemology; policymaker ignorance; government failure; public choice; David Hume
JEL Classification: B25, B53, D72, D78, D83, E61
Suggested Citation: Suggested Citation