following elections (exogenous elections) and <LI>the decision is salient and the election outcome depends on it (endogenous … elections). </OL> We show that while the possibility of learning increases activism, the existence of political instability … distorts learning. Furthermore, in contrast to the existing literature, we demonstrate that, when elections are exogenous …

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 …

that examination takes place in spite of, rather than thanks to, elections. Elections are needed as a carrot and a stick to …

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 …

describing the role of elections and explaining policy choices. In our model, politicians differ in their motives of running … if unseated. This finding exhibits the disciplining function of elections. A striking result in our paper is that bad …