I introduce a model of representative democracy that allows for strategic parties, strategic candidates, strategic voters, and multiple districts. If the distribution of policy preferences is sufficiently similar across districts and sufficiently close to uniform within districts, then the...

The adoption of gender quotas in electoral lists, like the recent “parity law” in France, can be fully rationalized on the basis of the self interest of male incumbent politicians. This paper explains why the parity law was approved in its form and, at the same time, why it has not been very...

Theories of focal points typically assume that games have inherent labelings or "frames" and then construct models of how players perceive and exploit these frames to identify focal equilibria. This paper asks instead how evolutionary considerations determine which aspects of a frame are likely...

Coherent imprecise probabilistic beliefs are modelled as incomplete comparative likelihood relations admitting a multiple-prior representation. Under a structural assumption of Equidivisibility, we provide an axiomatization of such relations and show uniqueness of the representation. In the...

The paper presents a notion of rationalizing choice functions that violate the “Independence of Irrelevant Alternatives” axiom. A collection of linear orderings is said to provide a rationalization by multiple rationales for a choice function if the choice from any choice set can be...

We use a moral hazard model to compare monitored (nontraded) bank loans and traded (nonmonitored) bonds as sources of external funds for industry. We contrast the theoretical conditions that favor each system with the historical conditions prevailing when these financial systems evolved during...

We analyze and evaluate the di¤erent decision rules describing the Council of Ministers of the EU starting from 1958 up to now. Most of the existing studies use the Banzhaf index (for binary voting) or the Shapley-Shubik index (for distributive politics). We argue in favor of the nucleolus as a...