First generation fiscal federalism (FGFF) studies the performance of decentralized systems under the assumption of benevolent social planners. Second generation fiscal federalism (SGFF) studies performance based on the fiscal and political incentives facing subnational officials. The paper...

This authoritative and encyclopaedic reference work provides a thorough account of the public choice approach to economics and politics. The Companion breaks new ground by joining together the most important issues in the field in a single comprehensive volume. It contains state-of-the-art...

Rational choice theorists have long been ambivalent about the rationality postulate. Although many agree that humans have imperfect foresight and inaccurate understandings of the world within which they act, no satisfactory approach relaxing the rationality postulates exists. In this article, we...

The three articles that follow this introductory essay reflect a rapidly growing effort in the social sciences to integrate institutional analysis with more traditional theory. In economic history, institutional analysis attempts to expand and enrich our understanding by modeling the ways in...

Attempts to reign-in runaway regulatory bureaucracy fail because the bureaucracy has all the important resources. The bureaucracy also holds the upper hand in policy-making because Congress has neither the time nor inclination to effect legislative control and oversight. The authors examine the...