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Vote-share Contracts and Democracy

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Author Info
Gersbach, Hans

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Abstract

In this paper we introduce vote-share contracts. Such contracts contain a vote-share threshold that incumbents must reach in order to be reelected. In a simple model, we illustrate the working of vote-share contracts. Such vote-share contracts curb socially detrimental incumbency advantages by improving the average ability level of re-elected politicians and also increase effort. We show that the socially optimal vote-share threshold for incumbents is larger than one half. Competing candidates offer vote-share contracts with socially optimal thresholds.

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Paper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 6497.

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Date of creation: Sep 2007
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Handle: RePEc:cpr:ceprdp:6497

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Related research
Keywords: elections; political contracts; vote-share thresholds;

Other versions of this item:

Find related papers by JEL classification:
D7 - Microeconomics - - Analysis of Collective Decision-Making
D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information
H4 - Public Economics - - Publicly Provided Goods

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Kenneth Rogoff & Anne Sibert, 1988. "Elections and Macroeconomic Policy Cycles," NBER Working Papers 1838, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  2. Alberto Alesina & Guido Tabellini, 2007. "Bureaucrats or Politicians? Part I: A Single Policy Task," Levine's Working Paper Archive 321307000000000870, David K. Levine. [Downloadable!]
    Other versions:
  3. Alesina, Alberto & Cukierman, Alex, 1990. "The Politics of Ambiguity," The Quarterly Journal of Economics, MIT Press, vol. 105(4), pages 829-50, November. [Downloadable!] (restricted)
    Other versions:
  4. Cox, Gary W. & Katz, Jonathan N., 1995. "Why Did The Incumbency Advantage In U.S. House Elections Grow?," Working Papers 939, California Institute of Technology, Division of the Humanities and Social Sciences. [Downloadable!]
  5. Bernhardt, M. Daniel & Ingerman, Daniel E., 1985. "Candidate reputations and the `incumbency effect'," Journal of Public Economics, Elsevier, vol. 27(1), pages 47-67, June. [Downloadable!] (restricted)
  6. Hess, Gregory D & Orphanides, Athanasios, 1995. "War Politics: An Economic, Rational-Voter Framework," American Economic Review, American Economic Association, vol. 85(4), pages 828-46, September. [Downloadable!] (restricted)
  7. Banks, Jeffrey S. & Sundaram, Rangarajan K., 1998. "Optimal Retention in Agency Problems," Journal of Economic Theory, Elsevier, vol. 82(2), pages 293-323, October. [Downloadable!] (restricted)
  8. Gersbach, Hans, 1992. "Allocation of information by majority decisions," Journal of Public Economics, Elsevier, vol. 48(2), pages 259-268, July. [Downloadable!] (restricted)
  9. Hans Gersbach, 2004. "Competition of Politicians for Incentive Contracts and Elections," Public Choice, Springer, vol. 121(1), pages 157-177, October. [Downloadable!] (restricted)
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  10. Gregory D. Hess & Athanasios Orphanides, 2001. "War and Democracy," Journal of Political Economy, University of Chicago Press, vol. 109(4), pages 776-810, August. [Downloadable!] (restricted)
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  11. Gersbach, Hans & Muller, Markus, 2006. "Elections, Contracts and Markets," CEPR Discussion Papers 5717, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
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  12. Daniel Diermeier & Michael Keane & Antonio Merlo, 2005. "A Political Economy Model of Congressional Careers," American Economic Review, American Economic Association, vol. 95(1), pages 347-373, March. [Downloadable!]
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  13. Anderson, Simon P & Glomm, Gerhard, 1992. " Incumbency Effects in Political Campaigns," Public Choice, Springer, vol. 74(2), pages 207-19, September.
  14. Cukierman, Alex & Tommasi, Mariano, 1998. "When Does It Take a Nixon to Go to China?," American Economic Review, American Economic Association, vol. 88(1), pages 180-97, March. [Downloadable!] (restricted)
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  15. Justin Buchler, 2007. "The social sub-optimality of competitive elections," Public Choice, Springer, vol. 133(3), pages 439-456, December. [Downloadable!] (restricted)
  16. Scott Ashworth, 2005. "Reputational Dynamics and Political Careers," Journal of Law, Economics and Organization, Oxford University Press, vol. 21(2), pages 441-466, October. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Hans Gersbach & Verena Liessem, 2008. "Reelection threshold contracts in politics," Social Choice and Welfare, Springer, vol. 31(2), pages 233-255, August. [Downloadable!] (restricted)
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