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Democratic Failures

Democratic Failures

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Democratic Failures

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  1. Democratic Failures • Coordinate, commit failures (e.g., war) • Mean not = median • Ex-ante risk of cycles, which coalitions • Small group sneaks inefficient pork? • Not reveal public good value/cost • Private vs. common value/cost • Low vs. contrary incentives

  2. Vote Values, Bet Beliefs 100 Project Succeeds Opportunity Cost (Ex ante 50% chance) Project Fails 0