the two time periods, there is an election. Politicians are either honest or dishonest. The marginal cost of public monies … separates and loses the election if and only if ψ>ψ^* and he pools and is re-elected otherwise. Finally, we note that an …

the two time periods, there is an election. Politicians are either honest or dishonest. The marginal cost of public monies … separates and loses the election if and only if ψ>ψ^* and he pools and is re-elected otherwise. Finally, we note that an …