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We analyze a psychologically-based model of voter turnout in an election with common value and uncertainty. Our model yields distinctive comparative statics results. First, an increase in the proportion of informed citizens may cause the winning margin for the right candidate to either rise or...
Persistent link: https://www.econbiz.de/10013315570
A policymaker selects a group of citizens—a minipublic—to advise her on the desirability of a policy. Each citizen can discover local evidence about the policy but might prefer not to due to political uncertainty in the policymaker’s adoption threshold. Such uncertainty is detrimental to...
Persistent link: https://www.econbiz.de/10013244821
This paper investigates the role that idiosyncratic uncertainty plays in shaping social preferences over the degree of labor market flexibility, in a general equilibrium model of dynamic labor demand where the productivity of firms evolves over time as a Geometric Brownian motion. A key result...
Persistent link: https://www.econbiz.de/10013325149
of the unknown plays an important role in human decision making, including voting. This article describes a theoretical …
Persistent link: https://www.econbiz.de/10014179510
According to retrospective voting a bad economy hurts the incumbent party and vice versa. According to risk …-aversion voting a bad economy favors the Democrats over the Republicans and vice versa. This paper provides a test of both theories … and rejects risk-aversion voting …
Persistent link: https://www.econbiz.de/10013238320
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cheapest combination of bribes that guarantees the proposal's passing in different voting environments. We find that for both … expensive. In small committees, sequential voting increases cost while the opposite is true for large committees. On the other … hand, additional members and transparent voting rules lower the cost …
Persistent link: https://www.econbiz.de/10012833674
This paper extends Harsanyi's Impartial Observer Theorem by introducing Knightian Uncertainty in the form of individual belief systems. It features an axiomatic framework of societal decision-making in the presence of individual uncertainty. The model allows the analysis of scenarios where...
Persistent link: https://www.econbiz.de/10012948325