We consider a two period model in which an incumbent political party chooses the level of a current policy variable unilaterally, but faces competition from a political opponent in the future. Both parties care about voters' payoffs, but they have different beliefs about how policy choices will...

We consider a two period model in which an incumbent political party chooses the level of a current policy variable unilaterally, but faces competition from a political opponent in the future. Both parties care about voters' payoffs, but they have different beliefs about how policy choices will...

We consider a two period model in which an incumbent political party chooses the level of a current policy variable unilaterally, but faces competition from a political opponent in the future. Both parties care about voters payoffs, but they have different beliefs about how policy choices will...

In recent years, algae-based fuels have received a growing interest of the industry sector and the US Government as a sustainable and renewable energy source. Algae constitute a unique feedstock as they contain high levels of both lipids and sugars and, thus, can be used for both biodiesel and...

Abstract We show that, when there is joint production of an agricultural good and rural amenities, the first-best allocation of resources can be implemented with a tax on the agricultural good and some subsidies on the production factors (land and labor). The use of a subsidy on the agricultural...

We consider a two period model in which an incumbent political party chooses the level of a current policy variable unilaterally, but faces competition from a political opponent in the future. Both parties care about voters' payoffs, but they have different beliefs about how policy choices will...

An incumbent political party, who cares only about voters' welfare, faces future political competition from a similarly well-intentioned party whose beliefs about the consequences of a `long-run' public policy are different from its own. We show that when the incumbent can endogenously influence...