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, we show that the achievement of a consensus in the society is closely related to the presence of prominent agents who are …
Persistent link: https://www.econbiz.de/10010823241
distributions of signals and messages, we identify a condition under which the agents reach a consensus in their opinions even when … consensus need not be reached in a strongly connected network. …
Persistent link: https://www.econbiz.de/10010823250
In the present paper we uncover a novel mechanism through which a minority can gain a disproportionate power in a perfectly functioning democracy. In our model, a government elected by majority within a two party democracy, decides on a unique redistributive instrument, the tax rate. We show...
Persistent link: https://www.econbiz.de/10011095108