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- Title
Optimal Policymaking under Yardstick Vote: An Experimental Study.
- Authors
Argilaga, Albert; Fan, Jijian
- Abstract
We develop a numerical model that simulates the evolution of a virtual population with an incentive and ability-based wage, capital yield from savings, social welfare system, and total income subject to taxation and political turnovers. Meta-heuristics, particle swarm optimization (PSO) in particular, is used to find optimal taxation given the constraints of a plurality democracy with yardstick vote. Results show that the policymaker tends to a taxation system that is highly punitive for a minority in order to win the election by benefiting others. Such decision-making leads to a cyclic taxation policy with high taxation targeting sequential portions of the population.
- Subjects
PARTICLE swarm optimization; POLICY sciences; OPTIMAL taxation; VOTING; INCOME tax
- Publication
Games (20734336), 2022, Vol 13, Issue 3, p42
- ISSN
2073-4336
- Publication type
Article
- DOI
10.3390/g13030042