The willingness-to-pay for Caplanian irrationality

Ryan Murphy ()

Rationality and Society, 2016, vol. 28, issue 1, 52-82

Abstract: 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.

Keywords: Consumer behavior; public choice; rational irrationality; rationality; voter behavior (search for similar items in EconPapers)
Date: 2016
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:sae:ratsoc:v:28:y:2016:i:1:p:52-82

DOI: 10.1177/1043463115605478

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