and implement public policies, we show that examination takes place in spite of, rather than thanks to, elections …. Elections are needed as a carrot and a stick to motivate politicians, yet politicians who are overly interested in re …

the release of information? Using Brazilian elections and audits as an exogenous source of information, I show that both … competitiveness of elections and, therefore, candidates' spending. Only information disclosed prior to electoral campaigns impacts …

elections (exogenous elections) andthe decision is salient and the election outcome depends on it (endogenous elections).We show …. Furthermore, in contrast to the existing literature, wedemonstrate that, when elections are exogenous, polarization between … political parties does not always decreaseactive learning. In the case with endogenous elections we find that electoral concerns …