Theories of Public Choice

Public Choice Theory analyzes public decision-making through the lens of individual behavior and incentives, similar to economics in the private sector. It suggests that politicians, bureaucrats, and voters act in their own self-interest, which can lead to inefficiencies and unintended consequences in government policies. This theory explores how electoral systems, lobbying, and regulations are influenced by the motivations of individuals, rather than purely altruistic goals. Ultimately, Public Choice highlights how collective choices can be shaped by the individual actions and interests of those involved in the political process.