Mike Hammock and I just submitted our paper "The Truthiness Hurts" to the Socio-Economic Review. Here's the abstract; the paper is available on SSRN:

This essay summarizes and applies some of the key insights in Bryan Caplan’s The Myth of the Rational Voter. We discuss the relevance of cheap signals in increasingly-complex political systems as well as the relevance of ideas in public policy with “rationally irrational” voters. We also add a fifth bias, “stick-it-to-the-man bias,” to Caplan’s proposed anti-market, anti-foreign, make-work, and pessimistic biases. We apply these biases to current debates in environmental policy. Combined, these biases give us cause to be skeptical of attempts to correct market failures through the political system.