ECON3029 Direct Democracy

System where citizens vote directly over final outcomes

Study of how politics affects the economy and vice versa

Citizens vote directly over final outcomes

Citizens elect politicians who then make policy decisions

The Assembly of the Canton Glarus in Switzerland

Citizens voting directly over final alternatives, sincere voting, and open agenda

Instrumental rationality and expressive rationality

Having complete and transitive preferences over possible actions

Complete (a ⪰ b or b ⪰ a) and Transitive (if a ⪰ b and b ⪰ c, then a ⪰ c)

u(a) ≥ u(b) if, and only if, a ⪰ b

Preferences with a most preferred alternative, whether that be one extreme or an intermediate position on a uni-dimensional spectrum

Utility decreases as we move away from the peak and never increases again ie one local maximum

Using a utility function (Representation Theorem)

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