How to Break the Bandwagon Effect of Corruption

Pazhani Samy

MPRA Paper from University Library of Munich, Germany

Abstract: Corruption is considered as the most challenging issues of present economies of the world due to its impact on institutions, values and the sustainable development. It restricts almost all form of economic activities through redirecting the finance into unpredictable directions and weakens the economics system which locked as many countries continued to fail in controlling the corruption significantly. According to the World Corruption Perception Index (2018) India stands 78th rank out of 180 countries surveyed even after numerous policies adopted from the independence by the government of India to rectify it. Corruption is a behavioral aspect and the available literature on interlinking of corruption behavior and the Economics behind it are not well documented connecting various theories and their application of controlling corruption which triggers a call for integrated attempt to enquire into the behavioral Economics of corruption and to identify the relevant solution to rectify it. This paper is attempted to fill this gap in research by exploring the behavior of corruption in the light of the micro economic theory of consumer behavior called Bandwagon effect in the society. The paper identify the interlink age among corruption behavior, and bandwagon effect and the Economics of information and explored that how the (includes asymmetric) information can be fine tuned towards mitigating the bandwagon effect and corruption.

Keywords: Bandwagon Effect and Corruption; Controlling Corruption; Behavioral Economic approach to corruption; Network Externality of Corruption; Asymmetric information for the Corruption Market Failure; Breaking the bandwagon effect; Micro economic theory and corruption; making the corruption market failure (search for similar items in EconPapers)
JEL-codes: A11 D12 D5 D53 D6 D62 G2 P0 (search for similar items in EconPapers)
Date: 2019-02-27
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