Question

Discuss the characteristics of Public Choice approach

25 Aug 2021
Answer :
Word Count : 588

Public choice, or public choice theory, is "the use of economic tools to deal with traditional problems of political science".Its content includes the study of political behavior. In political science, it is the subset of positive political theory that studies self-interested agents voters, politicians, bureaucrats and their interactions, which can be represented in a number of ways – using for example standard constrained utility maximization, game theory, or decision theory. It is the origin and intellectual foundation of contemporary work in political economy.Public choice analysis has roots in positive analysis but is often used for normative purposes  in order to identify a problem or to suggest improvements to constitutional rules  constitutional economics.Public choice theory is also closely related to social choice theory, a mathematical approach to aggregation of individual interests, welfares, or votes.Much early work had aspects of both, and both fields use the tools of economics ____ _________ ________ ________ ________ ____.
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