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We present a model of elections in which interest group donations allow candidates to shift policy positions. We show that if donations were prohibited, then a unique equilibrium regarding the position choices of candidates would exist. With unrestricted financing of political campaigns two...
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We study communication in ambiguous environments. Agents communicate individual decisions sequentially. Based on the …, the decisions differ no matter how long the communication lasts. Such persistent disagreements are precluded in Bayesian … frameworks endowed with a common prior. When communication is private and nobody is excluded from it, we show that ambiguity …
Persistent link: https://www.econbiz.de/10014484275
We present a variant of a general equilibrium model with group formation to study how changes of non-consumptive benefits from group formation impact on the well-being of group members. We identify a human relations paradox: Positive externalities increase, but none of the group members gains in...
Persistent link: https://www.econbiz.de/10009236279
We present a variant of a general equilibrium model with group formation to study how changes of non-consumptive benefits from group formation impact on the well-being of group members. We identify a human relations paradox: Positive externalities increase, but none of the group members gains in...
Persistent link: https://www.econbiz.de/10011753209
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