Is More Information Good for Voters?
P5-3
Presented by: Benjamin Blumenthal
Recent work in the political agency literature shows how being less informed about policy-making can improve a representative voter's welfare. Using a model of targeted spending with homogeneously informed voters, I show how diverse papers analysing a large range of issues in policy-making -- the role of interest groups, the influence of media, fiscal restraints, the effect of non-binding law, the impact of ideology -- rely on the possibility of partial control, partial screening, or both, when a representative voter benefits from less information. Building on this mechanism, I subsequently ask: if voters are heterogeneously informed, is it better to be part of a more informed elite or the less informed masses? How is the voters' welfare affected by the existence of a more informed elite? I show that the answers depend on the elite's ability to communicate with the masses and the nature of its additional information.