We analyse an overlapping generations model of voting on "reform projects". These resemble investments in that they first require some investment expenditure and later payoff. Since the time during which old people get the benefit is shorter, or because older people are more wealthy and hence...

We consider a model in which voters over time receive more information about their preferences concerning an irreversible social decision. Voters can either implement the project in the first period, or they can postpone the decision to the second period. We analyze the effects of different...

We also explore the robustness of our model when second period valuations are correlated across individuals, and when each individual's first and second period types are correlated.

We analyse an overlapping generations model of voting on "reform projects". These resemble investments in that they first require some investment expenditure and later payoff. Since the time during which old people get the benefit is shorter, or because older people are more wealthy and hence...