• Nicholas KYRIAZIS University of Thessaly, Department of Economic Studies, Greece
  • Emmanouil Marios L. ECONOMOU University of Thessaly, Department of Economic Studies, Greece


In the present essay, by utilizing game theory we present a model of choice by actors to explain how change comes about. Then by using ancient and modern sources of literature, we analyze the theory of the social contract as a historical phenomenon that first appeared during the classical period of Athens (510-323 BC.). Then we utilize our findings to explain how public choice was practiced under a direct democracy regime in ancient Athens, by focusing on two historical cases: Eubulus and Lycurgus fiscal policy programs in the second half of the 4th century. We found that these policies can be explained as an implementation of a social contract, through which the Athenian citizens were taking decisions based on rational choice according to a wider economic prospective.


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How to Cite
KYRIAZIS, Nicholas; ECONOMOU, Emmanouil Marios L.. SOCIAL CONTRACT, PUBLIC CHOICE AND FISCAL REPERCUSSIONS IN THE ATHENIAN DEMOCRACY. Theoretical and Practical Research in Economic Fields, [S.l.], v. 4, n. 1, p. 61-76, june 2013. ISSN 2068-7710. Available at: <>. Date accessed: 24 feb. 2024.