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Voting On Values.pdf

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Preview of Voting on Values
🔗 Source: hanson.gmu.edu
📊 Size: 254 KB
👤 Author: Robin Hanson
⬇️ Downloads: 151

Summary

Policy disputes often arise from conflicting beliefs on how to achieve shared ends, and inferior policies may be chosen due to a failure of "info" institutions, which include public relations, news media, and think tanks, to induce people to acquire and share relevant information. Speculative markets, which excel at inducing people to acquire and share information, could be used to augment political info institutions, potentially leading to better policy decisions. One possible approach is to "vote on values, but bet on beliefs," where elected representatives define national goals and speculative markets estimate the effectiveness of proposed policies in achieving those goals. If markets clearly estimate that a policy would increase national welfare, it becomes law. This approach could address the info problems of democracy, but raises various objections that need to be addressed through design and testing.

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Description

Policy disputes often arise from conflicting beliefs on how to achieve shared ends, and inferior policies may be chosen due to a failure of "info"...

Technical Information

  • File Format: PDF
  • File Size: 254 KB
  • Pages: 50
  • Language: EN
  • Author: Robin Hanson
  • Total Downloads: 151
  • Last Updated: 3 hours ago

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This PDF document about Voting on Values provides comprehensive information and guidance. Whether you're a beginner or advanced user, this resource offers valuable insights into Voting on Values.

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