and others in specialization. Our theory throws light on the nature of hierarchy, the optimal degree of decentralization …

theoretical results are summarized in a number of propositions. We discuss the implications of the theory, comment on its relation …

public schooling. We develop a theory which integrates private education and fertility decisions with voting on public … political power can lead to multiple equilibria in the determination of public education spending. The main predictions of the … theory are consistent with state-level and micro data from the United States as well as cross-country evidence from the PISA …

system, and second, that presidents have more power with respect to their own coalition than prime ministers do. These … setting power to another group. We argue that the model is consistent with a great deal of qualitative information about …

unanticipated) changes in the distribution of political power and in economic structure. We focus on the Markov Voting Equilibria …, which require that economic and political changes should take place if there exists a subset of players with the power to … institutions as well as individual types can be ordered, and preferences and the distribution of political power satisfy natural …

political power decides the allocation of resources. We show that Pareto efficient allocations take a quasi-Markovian structure … and can be represented recursively as a function of the identity of the group in power and updated Pareto weights. For … disappear and labor supply and consumption levels fluctuate over time. The labor supply of groups that are not in power are …

Motivated by the structure of WTO negotiations, we analyze a bargaining environment in which negotiations proceed …