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A Theory of Conservatism

A free‐rider problem arises when a group choice between two alternatives has to be made on the basis of privately collected evidence, leading to insufficient effort in gathering evidence and an ex ante welfare loss for the group. To alleviate the free‐rider problem, the group can commit to a... Full description

1st Person: Li, Hao
Source: in Journal of Political Economy Vol. 109, No. 3 (2001), p. 617-636
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Type of Publication: Article
Language: English
Published: 2001
Online: Volltext
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