Success and failure of democracy are interpreted as different equilibria of a dynamic political game with cost of changing leadership and incomplete information about politicians' virtue. Unitary democracy can be frustrated when voters do not replace corrupt leaders, because any new leader would...

This paper offers a short introduction to some of the fundamental results of social choice theory. Topics include Nash implementability, monotonic social choice correspondences, the Muller-Satterthwaite impossibility theorem, anonymous and neutral social choice correspondences, sophisticated...