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Winners and losers of early elections : on the welfare implications of political blockades and early elections
Bierbrauer, Felix; Mechtenberg, Lydia - 2008
We develop a dynamic model of political competition. Each party has a policymotivated ideological wing and an office-motivated opportunistic wing. A blockade arises if inner-party conflict stops policy implementation. We use this model to study whether early elections should be used to overcome...
Persistent link: https://www.econbiz.de/10003796136
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Winners and losers of early elections : on the welfare implications of political blockades and early elections
Bierbrauer, Felix; Mechtenberg, Lydia - 2008
We develop a dynamic model of political competition. Each party has a policymotivated ideological wing and an office-motivated opportunistic wing. A blockade arises if inner-party conflict stops policy implementation. We use this model to study whether early elections should be used to overcome...
Persistent link: https://www.econbiz.de/10003935643
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Majority-efficiency and competition-efficiency in a binary policy model
Krasa, Stefan (contributor); Polborn, Mattias (contributor) - 2007
Persistent link: https://www.econbiz.de/10003496789
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The effect of higher re-election hurdles and costs of policy change on political polarization
Gersbach, Hans; Muller, Philippe; Tejada, Oriol - 2016
Persistent link: https://www.econbiz.de/10011524508
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Companies should maximize shareholders welfare not market value
Hart, Oliver D.; Zingales, Luigi - 2017
Persistent link: https://www.econbiz.de/10011715571
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Companies should maximize shareholder welfare not market value
Hart, Oliver D.; Zingales, Luigi - 2017 - This version: July2017
Persistent link: https://www.econbiz.de/10012295426
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Companies should maximize shareholder welfare not market value
Hart, Oliver D.; Zingales, Luigi - 2017 - This version: July 2017
What is the appropriate objective function for a firm? We analyze this question for the case where shareholders are prosocial and externalities are not perfectly separable from production decisions. We argue that maximization of shareholder welfare is not the same as maximization of market...
Persistent link: https://www.econbiz.de/10011772256
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Making autocracy work
Besley, Timothy; Kudamatsu, Masayuki - In: Institutions and economic performance, (pp. 452-510). 2008
Persistent link: https://www.econbiz.de/10014562004
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Winners and Losers of Early Elections : On the Welfare Implications of Political Blockades and Early Elections
Bierbrauer, Felix J.; Mechtenberg, Lydia - 2008
We develop a dynamic model of political competition. Each party has a policymotivated ideological wing and an office-motivated opportunistic wing. A blockade arises if inner-party conflict stops policy implementation. We use this model to study whether early elections should be used to overcome...
Persistent link: https://www.econbiz.de/10014211919
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Making Autocracy Work
Besley, Timothy J.; Kudamatsu, Masayuki - 2008
selectorate in specific instances of successful autocracy. We also show that, consistent with the theory, leadership turnover in …
Persistent link: https://www.econbiz.de/10014218461