NEGATIVE SELECTION AND MORAL RISK IN POLITICS. AN OUTLINE OF THE USEFULNESS TO POLITICAL SCIENCE OF THE ECONOMIC CONCEPT OF INFORMATION ASYMMETRY (Hungarian title - below)

• Authors: Szanto Zoltan
• Languages of publication: HU

Abstracts

EN

(Title in Hungarian - 'Kontraszelekcio es erkolcsi kockazat a politikaban. Vazlat az informacios aszimmetria kozgazdasagtani fogalmainak politikatudomanyi alkalmazhatosagarol'). The paper argues in favour of employing in political science the economic concept of information asymmetry, seeking to show that the mechanisms of information asymmetry among the players on the political market may have negative effects on the operation of a democratic political system as information asymmetry among economic actors - according to arguments of Nobel prize-winning economists - has on the efficiency of market competition. The paper sheds new light on the phenomenon of negative political selection (known since Plato's time), and goes on to deal in detail with the appearance of moral risk and client/agent relations in politics. The author touches also on the appearance in politics of mechanisms - signals and filters - that economists suggest for reducing information asymmetry.

Keywords

EN

ASYMMETRIC AND PRIVATE INFORMATION; ELECTIONS; LEGISLATURES; MODELS OF POLITICAL PROCESSES; VOTING BEHAVIOR

Discipline

• ECONOMICS: ECONOMICS

• Publisher: Committee for Economic Sciences of the Hungarian Academy of Sciences
• Journal: Kozgazdasagi Szemle (Economic Review)
• Year: 2009
• Volume: 56
• Issue: 6
• Pages: 563-571
• Document type: ARTICLE

Contributors

author

Szanto Zoltan

• Zoltan Szanto, no address given, contact the journal editor

Identifiers

CEJSH db identifier

10HUAAAA07888