A Theory of Political Participation

Isa, Berk Orkun and Yucel, Mustafa Eray (2020): A Theory of Political Participation.

Abstract

This paper lays down a mathematical model of political participation where participatory behavior functions as insurance against redistribution of resources. Abstracting a broad notion of political participation to its tangible bene�fits and costs, we elaborate the participatory behavior from the perspectives of Expected Utility and Cumulative Prospect Theory. Our elaboration reveals that the relative degrees of risk aversion and loss aversion yield a multiplicity of equilibria, sheds light on the recently observed absenteeism in political participation and suggest that participation would not increase unless the material domain of politics itself is altered.

• Item Type: MPRA Paper
• Language: English
• Keywords: Political Participation; Cumulative Prospect Theory; Risk Aversion; Insurance; Lobbying
• Subjects: D - Microeconomics > D7 - Analysis of Collective Decision-Making > D72 - Political Processes: Rent-Seeking, Lobbying, Elections, Legislatures, and Voting Behavior; P - Economic Systems > P1 - Capitalist Systems > P16 - Political Economy

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