We present a dynamic model of legislative bargaining in which policy making proceeds until the proposer has no more incentive to make a new proposal to replace the previously approved policy. We characterize stationary Markov perfect equilibria for the game and show that in all pure-strategy...

Diermeier and Fong (2008a) recently proposed a legislative bargaining model with reconsideration in the context of a distributive policy environment. In this paper we prove general existence and necessary conditions for pure-strategy stationary equilibria for any finite policy space and...

We propose a model of attentiveness in elections with impressionable voters under various electoral rules. Voters' behavior is determined by their attentiveness and impressions of candidates. We show that attentiveness is as important as voters' preferences for the outcome of the election....

It is often argued that additional checks and balances provide economic agents with better protection from expropriation of their wealth or productive capital. We demonstrate that in a dynamic political economy model this intuition may be flawed. Surprisingly, increasing the number of veto...