when such a "dividend of democracy" obtains, we review experimental studies in which material incentives remain stacked … studies find positive dividends of democracy across a broad range of cooperation settings, we also report on studies that find … no dividend. We conclude that the existence of a dividend of democracy cannot be considered a stylized fact. We discuss …

likely through representative democracy. In the non-cooperative case, the more extensive possibilities for institutional … design under representative democracy increase the likelihood of centralisation. Direct democracy may thus be interpreted as …