[태그:] budget elections

Romer, T., &Rosenthal, H. (1982). Median voters or budget maximizers: Evidence from school expenditure referenda. Economic Inquiry, 20(4), 556-578.

Some readers may have found these results of greater interest were we able to confirm the directional hypotheses of the certainty setter model in addition to finding that spending is “related” to the reversion – the much weaker prediction of the uncertainty model. Yet the failure of the certainty When base elections were optional, their infrequent occurrence might be expected under either a median voter or ...

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