IDEAS home Printed from https://ideas.repec.org/a/kap/pubcho/v68y1991i1-3p41-55.html
   My bibliography  Save this article

Incomplete Information, Income Redistribution and Risk Averse Median Voter Behavior

Author

Listed:
  • Bishop, John A
  • Formby, John P
  • Smith, W James

Abstract

This paper extends the median voter model to include risk aversion. An expected utility maximizing median voter with an aversion to risk may behave differently than a median voter who is certain. A referendum on income redistribution from the top of the distribution to the bottom that fails when the median voter is certain may pass in the extended median voter model. Economic inefficiencies and the net losses accompanying redistribution are shown to play a pivotal role in determining the behavior of the risk-averse median voter. The model is illustrated using a one percent Demogrant redistribution. Copyright 1991 by Kluwer Academic Publishers

Suggested Citation

  • Bishop, John A & Formby, John P & Smith, W James, 1991. "Incomplete Information, Income Redistribution and Risk Averse Median Voter Behavior," Public Choice, Springer, vol. 68(1-3), pages 41-55, January.
    • Handle: RePEc:kap:pubcho:v:68:y:1991:i:1-3:p:41-55
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Glazer Amihai & Konrad Kai A., 1994. "Intertemporal Commitment Problems and Voting on Redistributive Taxation," Journal of Urban Economics, Elsevier, vol. 36(3), pages 278-291, November.
    2. Rodríguez, Juan Gabriel & Salas, Rafael, 2014. "The Gini coefficient: Majority voting and social welfare," Journal of Economic Theory, Elsevier, vol. 152(C), pages 214-223.
    3. Joachim Wessels, 1993. "Redistribution from a constitutional perspective," Constitutional Political Economy, Springer, vol. 4(3), pages 425-448, September.
    4. Steven R. Beckman & Gregory DeAngelo & W. James Smith & Ning Wang, 2016. "Is social choice gender-neutral? Reference dependence and sexual selection in decisions toward risk and inequality," Journal of Risk and Uncertainty, Springer, vol. 52(3), pages 191-211, June.
    5. John P. Formby & Steven G. Medema & W. James Smith, 1995. "Tax Neutrality and Social Welfare in a Comptutational General Equilibrium Framework," Public Finance Review, , vol. 23(4), pages 419-447, October.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:kap:pubcho:v:68:y:1991:i:1-3:p:41-55. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.