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When politicians have lower discount factors than voters, democratic elections cannot sufficiently motivate politicians … effective upon reelection, the hierarchy of contracts and elections can alleviate such inefficient decision-making in politics ….Keywords: Incentive contracts, politicians, long-term policies, elections and contracts, golden parachute clause. …
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In their pursuit of being elected, politicians might not provide their constituents with independent viewpoints, but just try to outguess popular opinion. Although rational voters see through such populism, candidates can not resist resorting to it when the spoils of office are too large. For an...
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experiment is the abolishment of an explicit electoral threshold (the so called "five percent hurdle") for local elections in … elections, but local politicians from large mainstream parties had the ability to adjust municipal political institutions in …
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