Voter Rationality and Macroeconomic Preferences
Introduction: Rational Voting, Rational Ignorance, and Political Parties
Rational voter theory asserts that citizens generally cast votes based on a rational decision-making process (Downs 1957). The political opinion-making process involves a subjective cost–benefit analysis by voters. Citizens rationally consider the different policy platforms among the political candidates and political parties. Citizens vote for the politician who supports the set of policies that offer the greatest perceived political net benefit. Individuals vote for the political candidate whose policies most closely resemble their own political preferences. A citizen’s political preference is the most preferred ...
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