An economic theory of leadership turnover
AbstractIn an infinite horizon model, a leader of a group of citizens exerts effort in each period to maintain a public good that enhances the profits of a group of kingmakers. In each period, the kingmakers decide whether to overthrow the leader so as to have a chance of becoming the leader. Consistent with the empirical literature, we find that (1) leadership turnover occurs when the kingmakers\\' expected earnings are low; (2) leadership turnover declines with duration in office; (3) leadership turnover declines as the technology for providing the public good improves; (4) leadership turnover increases as the number of kingmakers increases.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Public Economics.
Volume (Year): 88 (2004)
Issue (Month): 12 (December)
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Web page: http://www.elsevier.com/locate/inca/505578
Other versions of this item:
- D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
- C73 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Stochastic and Dynamic Games; Evolutionary Games
- P16 - Economic Systems - - Capitalist Systems - - - Political Economy of Capitalism
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