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1
Chapter 5
Public Choice and the Political
Process
The Supply of Public Goods
Through Political Institutions
2
Public Choiceinvolves
decisions being made
through political interaction
of many persons according
to pre-established rules.
Political Equilibrium
3
A political equilibrium is an agreement
on the level of production of one or
more public goods, given the specified
rule for making the collective choice
and the distribution of tax shares
among individuals.
or Tax Prices
4
Tax Shares
Tax shares, sometimes called tax
prices, are pre-announced levies
assigned to citizens.
They are a portion of the unit cost of a
good proposed to be provided by
government.
ti = tax share to individual i
Σti = average cost of good
Individual's Choice
5
Individuals make choices given their most
preferred political outcomes.
Each person will favor the quantity of the
government-supplied good corresponding to
the point at which the person’s tax share is
exactly equal to the marginal benefit of the
good to that person.
6
Figure 5.1 The Most Preferred Political Outcome
of A Voter
Tax per Unit
of Output
ti
MBi
Q*Z
Tax
Output per Year
0
The Choice to Vote or Not
7
Rational Ignorance is the idea that, to
many voters, the marginal cost of
obtaining information concerning an
issue is greater than the marginal
benefit of gaining that information. This
leads the voter to fail to gather the
information and then not to vote.
Determinants of Political
Equilibrium
8
the public choice rule
average and marginal costs of the
public good
information available on the cost and
benefit
the distribution of the tax shares
distribution of benefits among voters

CHAPTER 5- PUBLIC CHOICE AND POLITICAL PROCESS

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