This paper studies the relative efficiency of two kinds of regulations, quantity restrictions (quotas) and output subsidies, in an imperfectly competitive market under the existence of two sources of uncertainty: uncertainty in both costs and prices. We find that when the two sources of...

In the citizen-candidate approach each citizen chooses whether or not to run as candidate. In this paper we find that the strategic entry-exit decision of the candidates eliminates one of the most undesirable properties of Plurality rule, namely to elect a poor candidate in three-candidate...

Plurality rule, when applied to a fixed agenda setting, is mostly criticized from being capable of choosing an alternative considered as worst by a strict majority. In this paper we consider an endogenous agenda setting with no more than three alternatives. In those equilibria where the...