Which of the following represents the basic principle of public choice theory?
A) Politicians act consistently in the public's interest.
B) Politicians follow their own self-interest and seek to maximize their reelection chances, rather than promote the best interests of society.
C) Politicians act in the public interest once they are elected, but follow their own self-interest and seek to maximize their reelection chances during a political campaign.
D) Politicians have an incentive to be cost-conscious and creative because they face the same type of profit motive as producers.

Question

Quizplus · Accepted Answer

Public choice theory assumes that politicians are rational actors who seek to maximize their own self-interest, including their chances of getting re-elected. This is based on the idea that politicians are human beings who respond to incentives, just like everyone else. Therefore, rather than always acting in the public's interest, politicians may engage in behaviors that are primarily aimed at improving their own standing with voters, even if those actions are not optimal for society as a whole.

Which of the Following Represents the Basic Principle of Public