We suggest a model of electoral competition between two parties which is extended by a third player : mass media. The classical one-dimensional competition model is changed by introducing an issue-specific sensibility-coefficient and by allowing for non-voting. The winner is selected by majority...

1. Introduction -- 2. Basic definitions and theoretical conceptions of institutional economics -- 3. A theory of the emergence of institutions -- 4. A model of networks of institutions -- 5. Varieties of policy reactions to the recent financial and economic crises and national systems of...