Arbeitspapier
Evidence on the Political Principal-Agent Problem from Voting on Public Finance for Concert Halls
Principal-agent problems can arise when preferences of voters are not aligned with preferences of political representatives. Often the consequence of the political principal-agent problem is political catering to special interests. In this paper I provide examples of principal-agent problems regarding public spending. The examples concern construction or extension of concert halls in two German cities. Resistance to public funding for the concert halls was particularly strong in electoral districts with large constituencies on the left. The evidence indicates that political representatives were more bourgeois than their constituencies. In the cases studied asymmetric information did not prevail and voters were able to discipline their representatives through referenda that countered the results of voting by political representatives.
- Sprache
-
Englisch
- Erschienen in
-
Series: CESifo Working Paper ; No. 4306
- Klassifikation
-
Wirtschaft
Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
Positive Analysis of Policy Formulation and Implementation
State and Local Budget and Expenditures
Cultural Economics; Economic Sociology; Economic Anthropology: General
- Thema
-
principal-agent problem
referendum
direct democracy
political representation
political ideology
cultural policy
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Potrafke, Niklas
- Ereignis
-
Veröffentlichung
- (wer)
-
Center for Economic Studies and ifo Institute (CESifo)
- (wo)
-
Munich
- (wann)
-
2013
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:41 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Potrafke, Niklas
- Center for Economic Studies and ifo Institute (CESifo)
Entstanden
- 2013
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