Abstract

This essay gives an overview of how arandomized decision mechanism (sortition)can be expected to reduce the intensity ofself-interested activity by rent-seekingfactions within democracies. The socialcosts of rent-seeking are briefly reviewed.I then make the case that randomization ofcollective decision making proceduresattenuates rent-seeking expenditures. Iillustrate the argument by reference to thehighly contested Presidential election of2000. Finally, I buttress that argument bycomparing plurality voting and sortitionwithin the context of Tullock's Efficient Rent-seeking model (1980).

Full Text
Published version (Free)

Talk to us

Join us for a 30 min session where you can share your feedback and ask us any queries you have

Schedule a call