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This paper tests various hypotheses about distributive politics by studying the distribution of federal spending across U.S. states over the period 1978-2002. We improve on previous work by using survey data to measure the share of voters in each state that are Democrats, Republicans, and...
Persistent link: https://www.econbiz.de/10011071348
need a representative policymaker’s utility function (as in the literature on ambiguity), a reference model (as in robust …
Persistent link: https://www.econbiz.de/10010745638
implement the commitment solution with constraints on transfers. Second, absent current competition, the possibility of future …
Persistent link: https://www.econbiz.de/10010744985
business strategies. Without government commitment, there is an additional basis for intervention, whose sign depends on the …
Persistent link: https://www.econbiz.de/10010746184
always decrease the agency cost, it can have the adverse effect of weakening the principal's commitment not to renegotiate …
Persistent link: https://www.econbiz.de/10011126387
A basic model of commitment is to convert a two-player game in strategic form to a “leadership game” with the same …
Persistent link: https://www.econbiz.de/10011071384