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Inefficiency of the median voter

Show that with uniform benefits and proportional taxation, then the outcome of majority voting (as determined by the median voter theorem) is inefficient when median income is less than mean income (so the income distribution is right-skewed). Do this by comparing the median voter’s decision condition to the condition that leads to socially beneficial outcome?

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Operation Management, Management Studies

Category:- Operation Management
Reference No.:- M92186234

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