The Credibility Factor in Elections: Evidence from Britain's Nationwide Building Society's Vote Against Conversion

Stephanie Hoopes ()

Public Choice, 2001, vol. 107, issue 1, 115-133

Abstract: Why did members of Nationwide Building Society vote against converting to a bank and, by doing so,turn down a £ 2,000 windfall each? The findings of a survey of Nationwide members show that voters make more sophisticated and calculated choices than previously believed. In the Nationwide case, the voting decision was a calculation of costs and benefits as well as an evaluation of the likelihood that they would in fact be realised. The inclusion of a likelihood variable, which is based on information and attitude towards risk, provides a more realistic approach to understanding voting in rational choice terms. Copyright Kluwer Academic Publishers 2001

Date: 2001
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DOI: 10.1023/A:1010375907602

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