This paper investigates the effects of increased power associated with higher office on the quality of agent performance, within the context of a model in which agents care about what others think of them. They care that is about the esteem they enjoy. The object is to conduct a simple...

According to common wisdom, collective and in particular democratic decision-making attenuates the shadow of the future. The authors illustrate collective ways of extending time horizons that are inaccessible for individuals. They propose a coalitional structure (specifically an age distribution...

In analyzing political processes, public choice scholars invoke a two-level choice, choices within rules and constitutional choices among sets of rules. This paper considers rules that set the limits for market choice through the political-collective action. Three familiar categories of...