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Analyzing Democratic Failures: Risks, Coordination, and Inefficiencies

This paper explores the various failures inherent in democratic systems, focusing on the coordination challenges and the impact of group dynamics on decision-making. We examine the discrepancies between mean and median outcomes, the risks associated with ex-ante cycles, and the influences of small groups on public projects. Key concepts include public good valuation, private versus common costs, and the interplay of incentives in the voting process. By dissecting these elements, we gain insights into the inefficiencies that can plague democratic governance.

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Analyzing Democratic Failures: Risks, Coordination, and Inefficiencies

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  1. Democratic Failures • Coordinate, commit failures (e.g., war) • Mean not = median • Ex-ante risk of cycles, which coalitions • Small group sneaks inefficient pork? • Not reveal public good value/cost • Private vs. common value/cost • Low vs. contrary incentives

  2. Vote Values, Bet Beliefs 100 Project Succeeds Opportunity Cost (Ex ante 50% chance) Project Fails 0

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