public choice theory

Definitions

Economics

  • noun the economic theory relating to how much choice the public has in the economic decisions taken by a government. The public does not have a single preference, but many different preferences which can not all be reflected in a government’s economic policy.

Health Economics

  • (written as Public Choice Theory)
    Public choice theory is based on the idea that individuals in public positions make decisions according to their own interest rather than voluntarily follow any rules for maximizing social welfare.
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