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In this paper we study the functioning of representative democracy when politicians are better informed than the electorate about conditions relevant for policy choice. We consider a model with two states of the world. The distribution of voters preferred policies shifts with the state. The two...
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population of rational citizens. The analysis identifies a novel mechanism of media bias: the bias in a media outlet's news …
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information is symmetrically distributed and the scoring bias is set to offset the initial asymmetry between players …
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