Bryan Caplan’s The Myth of the Rational Voter popularizes the “near-neoclassical” demand curve for irrationality. This article attempts to show that there is a demand for irrationality at prices higher than zero. This may change policy implications. Many instances of consumer behavior, such as paying a premium for locally produced and “fair trade” goods, the use of local currencies, and the failure to vaccinate children, are other instances of the means-ends irrationality that Caplan observes in political markets.
Consumer behavior, public choice, rational irrationality, rationality, voter behavior
Creative Commons License
This work is licensed under a Creative Commons Attribution-Noncommercial-Share Alike 4.0 License.