publication . Article . Part of book or chapter of book . 2000

Political entrepreneurship and bidding for political monopoly

Michael Wohlgemuth;
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  • Published: 07 Jan 2000 Journal: Journal of Evolutionary Economics, volume 10, pages 273-295 (issn: 0936-9937, eissn: 1432-1386, Copyright policy)
  • Publisher: Springer Science and Business Media LLC
Abstract
An analytical framework for dealing with political entrepreneurship and reform is proposed which is based on some new combinations of Schumpeterian political economy, an extended version of Tullock's model of democracy as franchise-bidding for natural monopoly and some basic elements of New Institutional Economics. It is shown that problems of insufficient award criteria and incomplete contracts which may arise in economic bidding schemes, also - and even more so - characterise political competition. At the same time, these conditions create leeway for Schumpeterian political entrepreneurship. The same is true for various barriers to entry in politics. These bar...
Subjects
free text keywords: Schumpeter and public choice - Political entrepreneurs - Entry barriers - Policy reform - Political competition, Economics and Econometrics, General Business, Management and Accounting, Economics, Political economy of climate change, New institutional economics, Politics, International political economy, Natural monopoly, Entrepreneurship, Monopoly, Barriers to entry, Neoclassical economics, Microeconomics, jel:D72, jel:D78, jel:L10
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publication . Article . Part of book or chapter of book . 2000

Political entrepreneurship and bidding for political monopoly

Michael Wohlgemuth;