Abstract: Abstract Public choice theory refers to a branch of political economy that deals with nonmarket transactions and decision‐making and their outcome, impact, and context. Standard economics analyzes and assesses market economy transactions and decision‐making, as well as their outcomes. Regardless of whether the subject of the study is the public or private domain, transactions and decision‐making in the public domain have, generally and conventionally, been the domain of political science. Public choice theory interprets and studies nonmarket transactions and decision‐making using the analytical techniques of economics.
Publication Year: 2015
Publication Date: 2015-11-06
Language: en
Type: other
Indexed In: ['crossref']
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