Michael Wallerstein was a leader in developing a rigorous comparative political economy approach to understanding substantive issues of inequality, redistribution, and wage-determination. His early death from cancer left both a hole in the profession and a legacy that will surely provide the foundation for research on these topics. This volume collects his most important and influential contributions, organized by topic, with each topic preceded by an editorial introduction that provides overview and context.

Social choices, about expenditures on government programs, or about public policy more broadly, or indeed from any conceivable set of alternatives, are determined by politics. This book is a collection of essays that tie together the fields spanned by Jeffrey S. Banks' research on this subject. It examines the strategic aspects of political decision-making, including the choices of voters in committees, the positioning of candidates in electoral campaigns, and the behavior of parties in legislatures. The chapters of this book contribute to the theory of voting with incomplete information, to the literature on Downsian and probabilistic voting models of elections, to the theory of social choice in distributive environments, and to the theory of optimal dynamic decision-making. The essays employ a spectrum of research methods, from game-theoretic analysis, to empirical investigation, to experimental testing.

Social choices, about expenditures on government programs, or about public policy more broadly, or indeed from any conceivable set of alternatives, are determined by politics. This book is a collection of essays that tie together the fields spanned by Jeffrey S. Banks' research on this subject. It examines the strategic aspects of political decision-making, including the choices of voters in committees, the positioning of candidates in electoral campaigns, and the behavior of parties in legislatures. The chapters of this book contribute to the theory of voting with incomplete information, to the literature on Downsian and probabilistic voting models of elections, to the theory of social choice in distributive environments, and to the theory of optimal dynamic decision-making. The essays employ a spectrum of research methods, from game-theoretic analysis, to empirical investigation, to experimental testing.

"Positive Political Theory I" is concerned with the formal theory of preference aggregation for collective choice. The theory is developed as generally as possible, covering classes of aggregation methods that include such well-known examples as majority and unanimity rule and focusing in particular on the extent to which any aggregation method is assured to yield a set of "best" alternatives. The book is intended both as a contribution to the theory of collective choice and a pedagogic tool.
Austen-Smith and Banks have made the exposition both rigorous and accessible to people with some technical background (e.g., a course in multivariate calculus). The intended readership ranges from more technically-oriented graduate students and specialists to those students in economics and political science interested less in the technical aspects of the results than in the depth, scope, and importance of the theoretical advances in positive political theory.
"This is a stunning book. Austen-Smith and Banks have a deep understanding of the material, and their text gives a powerfully unified and coherent perspective on a vast literature. The exposition is clear-eyed and efficient but never humdrum. Even those familiar with the subject will find trenchant remarks and fresh insights every few pages. Anyone with an interest in contemporary liberal democratic theory will want this book on the shelf." --Christopher Achen, University of Michigan
David Austen-Smith is Professor of Political Science, Professor of Economics, and Professor of Management and Strategy, Northwestern University. Jeffrey S. Banks is Professor of Political Science, California Institute of Technology.

Michael Wallerstein was a leader in developing a rigorous comparative political economy approach to understanding substantive issues of inequality, redistribution, and wage-determination. His early death from cancer left both a hole in the profession and a legacy that will surely provide the foundation for research on these topics. This volume collects his most important and influential contributions, organized by topic, with each topic preceded by an editorial introduction that provides overview and context.