What's another term for the public choice theory?
Human choice theory
Public decision theory
Collective action theory
Non-market decision-making
Answer
Public choice theory, also known as non-market decision-making, is a branch of economics that studies how public institutions make decisions and how public policy affects the allocation of resources. Theory argues that public officials are motivated by self-interest, just like private individuals, and that they will use their power to maximize their own utility, rather than the public good.
The Mind of Economics: Unleashing the Legacy of James M. Buchanan
More Questions
Subscribe Now!
Learn something
new everyday
Playing quizzes is free! We send 1 quiz every week to your inbox