Binswanger, Johannes; Prüfer, Jens - In: European Journal of Political Economy 28 (2012) 3, pp. 358-372
policy choice in a representative democracy when voters do not fully anticipate a politician's strategic behavior to … partially. Limited sophistication crucially determines how welfare under representative democracy compares to welfare under … alternative political institutions such as direct democracy or governance by experts. We find that, under limited strategic …