We analyze the effect of means-tested benefits on annuitization decisions. Most industrialized countries provide a subsistence level consumption floor in old age, usually in the form of means-tested benefits or income supplements. The availability of such meanstested payments creates an...

We study popular initiatives as an important element of direct democracy. The initiative process is modelled as a sequential game under uncertainty: petitioners collect signatures to qualify the initiative and elicit information about the initiative's winning probability. Politicians decide...