Showing 1 - 10 of 12
A decision maker (DM) must address a series of problems over time. Each period, a random case arises and the DM must make a yes-or-no decision, which we call a ruling. She is uncertain about the correct ruling until she conducts a costly investigation. A ruling establishes a precedent, which may...
Persistent link: https://www.econbiz.de/10012060212
In this paper we analyze a legislative bargaining game in which parties privately informed about their preferences bargain over an ideological and a distributive decision. Communication takes place before a proposal is offered and majority rule voting determines the outcome. When the private...
Persistent link: https://www.econbiz.de/10010273671
In this paper we analyze a legislative bargaining game in which parties privately informed about their preferences bargain over an ideological and a distributive decision. Communication takes place before a proposal is offered and majority rule voting determines the outcome. When the private...
Persistent link: https://www.econbiz.de/10010277535
Which budgetary institutions result in efficient provision of public goods? We analyze a model with two parties bargaining over the allocation to a public good each period. Parties place different values on the public good, and these values may change over time. We focus on budgetary...
Persistent link: https://www.econbiz.de/10011440122
A party can address only a limited number of issues when in power. What issues to address - the party's agenda - has dynamic implications because it affects what issues will be addressed in the future. We analyze a model in which the incumbent in each period addresses one issue among several...
Persistent link: https://www.econbiz.de/10011440125
Do mandatory spending programs such as Medicare improve efficiency? We analyze a model with two parties allocating a fixed budget to a public good and private transfers each period over an infinite horizon. We compare two institutions that differ in whether public good spending is discretionary...
Persistent link: https://www.econbiz.de/10010397775
We analyze a legislative bargaining game over an ideological and a distributive issue. Legislators are privately informed about their ideological positions. Communication takes place before a proposal is offered and majority rule voting determines the outcome. We compare the outcome of the...
Persistent link: https://www.econbiz.de/10010397778
Do mandatory spending programs such as Medicare improve efficiency? We analyze a model with two parties allocating a fixed budget to a public good and private transfers each period over an infinite horizon. We compare two institutions that differ in whether public good spending is discretionary...
Persistent link: https://www.econbiz.de/10010500227
We analyze a legislative bargaining game over an ideological and a distributive issue. Legislators are privately informed about their ideological positions. Communication takes place before a proposal is offered and majority rule voting determines the outcome. We compare the outcome of the...
Persistent link: https://www.econbiz.de/10010500232
Building on Marx's insights in Chapter 25, Volume I of Capital, an augmented version of the cyclical profit squeeze (CPS) theory offers a plausible explanation of macroeconomic fluctuations under capitalism. The pattern of dynamic interactions that emerges from a 3-variable (profit share,...
Persistent link: https://www.econbiz.de/10010287849