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Deregulation can solve the problem of regulatory capture and increase economic efficiency:
Paradox of Voting
This refers to the situation where the costs of voting (time, effort, etc.) outweigh the seemingly negligible impact one vote has on the outcome of an election, creating a paradox as to why rational individuals would vote at all.
Majority Voting
A voting system in which decisions are made based on the preference of more than half of the participants.
Community's Preference
A concept in economics and social sciences that refers to the collective decision-making or tastes of a community as a whole.
Paired-Choice Votes
A voting method in which voters choose between pairs of candidates or options in a series of rounds to determine the most preferred option or candidate.
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