This paper studies the relationship between incumbents' performance and political polarization, both with theory and data. The theory is based on a spatial model of political competition in which the voters use the incumbent's performance in office to update their beliefs about his competence. A...

This paper analyzes incentives for cronyism in politics within a political agency model with moral hazard. The analysis focuses on the institutional features, which define contractual and appointment procedures within political organizations. The institutional framework does not allow explicit...

This paper analyzes incentives for cronyism in politics within an agency problem model with moral hazard. The analysis focuses on the institutional features, which define contractual and appointment procedures within political organizations. The institutional framework does not allow explicit...