by
Michael S. Kochin (Tel Aviv) and Levis A. Kochin (Washington-Seattle)
To appear in Public Choice
In modern liberal democracies, offering individual voters in political
elections money for their votes is wrong and illegal; offering groups of
voters particular benefits in exchange for their votes is constitutionally
protected. Voters do not sell their votes; instead, voters assign
their votes to legislative representatives who sell or trade for them.
Examining the role of coalition costs in political
and corporate elections, we argue that these rules protect voters from
themselves, from being compelled to approve proposals that leave them individually
worse off. Simultaneously, these rules allow voters to seek particular
benefits through collective organization and legislative representation.