When are political institutions stable? When do they tend toward reform? This paper examines a model of dynamic, endogenous institutional change. We introduce the class of dynamic political games (DPGs), dynamic games in which the political aggregation rules used at date t+1 are chosen by the...

This paper examines the issue of multiplicity of equilibria in alternating move repeated games with two players. Such games are canonical models of environments with repeated, asynchronous choices due to inertia or replacement. We focus our attention on Markov Perfect equilibria (MPE). These are...