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date: 28 June 2022

Abstract and Keywords

This chapter discusses Albert Hirschman’s Exit, Voice and Loyalty, a classic known for its relatively simple argument that has found many applications in fields ranging from personal relationships and workplace relations to emigration, political parties, and more importantly, public policy. Published in 1970, the book argues how exit and voice can be used by consumers of a product or service to let producers know their satisfaction (or dissatisfaction) with that good. This chapter first examines the influence of Exit, Voice and Loyalty in various fields before turning to some criticisms and extensions of Hirschman’s framework. It then assesses how exit and voice relate to loyalty and social investment as well as the evidence for Hirschman’s claim of the exit–voice trade-off. Finally, it analyses evidence on the efficiency of different exit mechanisms.

Keywords: Albert Hirschman, Exit, Voice and Loyalty, public policy, exit, voice, consumers, producers, loyalty, social investment

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