As the performance of long-term projects is not observable in the short run politicians may pander to public opinion … to stand for reelection. Reelection thresholds are offered by politicians during campaigns. We show that, on balance, the …

A large theoretical and empirical literature explores whether politicians and political parties change their policy … in lower quality politicians and receive negative local newspaper coverage. These findings have important implications …

As the performance of long-term projects is not observable in the short run politicians may pander to public opinion … to stand for reelection. Reelection thresholds are offered by politicians during campaigns. We show that, on balance, the …

In their pursuit of being elected, politicians might not provide their constituents with independent viewpoints, but …, "candor", can be sustained as equilibria. This means that the public's trust or distrust in politicians may be self …-fulfilling prophecies. Importantly, the more informed politicians are about public opinion, the more likely it is that populist behavior can …